1600 K Street, NW
1600 K StreetProject
Three, well-located downtown Washington, DC properties – 1600 K Street, NW, 2121 Wisconsin Avenue, NW and 2115 Wisconsin Avenue, NW -- were placed on the market in 1997 and marketed to a small select group of investors. The buildings contained a total of 360,000 square feet and were almost 90% occupied.

Challenges
J Street represented a client interested in investing in additional downtown Washington, DC assets and, through a longstanding relationship with the seller and his advisor, connected the buyer and seller at an opportune time. Each building required a separate negotiation culminating in an off-market $3.65 million purchase of all three buildings, which also needed extensive renovations.

Solutions
During the due diligence period, the purchaser, with J Street’s assistance, identified all major renovation projects needed to retain its current tenants and attract new ones.

Results
Within one year of purchase, all three buildings had undergone successful renovations and achieved 100% occupancy, including a signature lease by Olives, a premier restaurant, in 11,000 square feet at 1600 K Street. J Street was responsible for the leasing and property management for all three buildings.