LERNER TO START CONSTRUCTION OF 20 M STREET AT NAVY YARD METRO STATION
Will Build 190,000 Square Foot Class ‘A’ Office Building Next to Washington Nationals Stadium Site and Southeast Federal Center
Washington, DC, June 23, 2005 - Lerner Enterprises, one of Washington, D.C.’s premier real estate developers, will begin development of a new ten story, 190,000 square foot, Class ‘A’ office building to be located at 20 M Street, S.E., adjacent to the Navy Yard Metro Station in Washington, D.C. Construction will begin this Summer and completion is scheduled for Summer, 2007.
The decision to begin construction was spurred by the recent completion of the renovation and rehabilitation of numerous buildings inside the Navy Yard for NAVSEA Command, as well as the commencement of construction of the adjacent Southeast Federal Center and the new 1.5 million square foot headquarters of the United States Department of Transportation. In addition, retail, residential and hotel developments are underway in this newly developing market. The site is directly adjacent to the Navy Yard metro station and just two blocks from the future baseball stadium for the Washington Nationals.
The project was designed by WDG Architects of Washington, D.C., a nationally renowned architectural design firm. Conceived as the next generation of downtown commercial developments, the building will be a bold modern expression of transparent glass and silver metal banding, rising above the surrounding streetscape. The building design includes an elegant lobby with concierge, state of-the-art elevators and mechanical systems, and four levels of underground parking. The street level is planned for complementary retail including a restaurant, café and financial services.
The building has been designed to be “Green” and will be submitted to the Green Building Council for LEED certification. In addition to being environmentally friendly, special emphasis has been placed on energy and resource conservation and the provision of a healthy indoor environment for tenants and visitors.
“Green” features designed into the building include:
- Fueling stations for battery powered automobiles and bicycle parking, with dedicated shower and locker facilities.
- Roofing designed to reduce heat island effects.
- Plumbing fixtures designed for reduced water consumption.
- Reduced energy consumption through high efficiency, state of the art, HVAC systems. Humidification control has also been incorporated to insure optimum tenant comfort.
- Stringentwaste management procedures will be followed during construction to reduce the impact of construction waste on the environment.
- Recycled materials will be used to the greatest extent possible. Where practical, locally manufactured products and systems will be incorporated to minimize the pollution inherent in transportation.
- Exclusive use of low emitting paints, carpeting, adhesives and sealants will minimize tenant exposure to hazardous chemicals and maximize indoor air quality.
- Monitoring systems, including that for carbon dioxide, will insure maximum environmental comfort along with the lowest use of energy.
- Storm water management, including retention will mitigate the effects of roof and hardscape on the environment.
- The building is sited directly across from a Metro stop, which should encourage the use of public transportation.
20 M Street will be the first office building seen as one enters the “main street” of the new Southeast submarket along M Street from South Capitol Street. Office leasing services for the building will be performed by Diamond Property Company of McLean, Virginia. The General Contractor will be The Whiting -Turner Contracting Company of Baltimore, Maryland. Property management and retail leasing services will be provided by Lerner Corporation, an affiliate of Lerner Enterprises.
“Lerner Enterprises is excited about developing 20 M Street, which is one of the premier office development sites in Southeast Washington,” stated Mark D. Lerner, a principal of Lerner Enterprises. “Lerner’s vision and commitment to this area’s revitalization has been inspired by the strength of this rapidly emerging market and the direct access provided by the Navy Yard Metro Station. Being in the immediate proximity of the Southeast Federal Center and the future home of the Washington Nationals, gives us the confidence to begin construction of 20 M Street, on a fully speculative basis.”
In addition to 20 M Street, Lerner’s current projects include:
- 1800 Tysons Boulevard. A 13-story 320,000 square foot, world-class office tower in The Corporate Office Centre at Tysons II located at Tysons Boulevard and Galleria Drive in McLean, Fairfax County, Virginia. PricewaterhouseCoopers has leased 185,000 square feet and will be the lead tenant in the building. The project is now under construction and will be completed in fall, 2005.
- Residence Inn by Marriott – Dulles Airport. A 151 room suite hotel located in Dulles 28 Centre at Routes 28 and 625 at Pacific Boulevard in Dulles, Loudoun County, Virginia. The project is now under construction and will open in February, 2006.
- Dulles 28 Centre. A 300,000 square foot shopping center located next to the 130,000 square foot Wegman’s Food Market at Routes 28 and 625 at Pacific Boulevard in Dulles, Loudoun County, Virginia. The project will begin construction in early 2006 and is being developed in a joint venture with The Tower Companies of North Bethesda, Maryland.
- The Falls at Flint Hill. A 242 unit luxury residential condominium community located at Route 123 (Chain Bridge Road) and I-66 at Rosehaven Street in Fairfax, Virginia. Sales will begin this fall and groundbreaking for the project will be in February, 2006.
- Parc Dulles at Dulles Town Center. A luxury apartment community with 393 units located at City Center Boulevard and Stefanie Place in Dulles, Loudoun County, Virginia. Construction is now underway and Phase 1 delivery is scheduled for summer, 2006.
- 22400 Shaw Road. A 80,000 square foot office/flex building in Sterling Park Technology Center in Sterling, Loudoun County, Virginia. The project is now under construction and will be delivered in spring, 2006. The building is fully leased to the General Services Administration for use as a regional office of the United States Drug Enforcement Administration.
- Fallsgrove Corporate Center. A 208,000 square foot class ‘A’ office tower at 1900 Research Boulevard in Rockville, Maryland. Construction is scheduled to begin in spring, 2006.
Lerner Enterprises, founded in 1952 by Theodore N. Lerner, is Washington, D.C.’s largest private real estate developer and is involved in all phases of office, retail, hotel, sports & entertainment and residential real estate including planning, development, construction, leasing, and asset and property management.
Among its extensive office portfolio is The Corporate Office Centre at Tysons II, The Corporate Office Park at Dulles Town Center, Flint Hill Office Park, Parkview Executive Center, 7799 Leesburg Pike, Vintage Park, Sterling Park Business Center, Beaumeade Corporate Park and 400 Army Navy Drive in Northern Virginia; Fallsgrove Village Office Center and White Flint North in suburban Maryland; Washington Square at 1050 Connecticut Avenue and 1133 Connecticut Avenue in downtown Washington, D. C.
Additional information on Lerner Enterprises is available at Lerner.com.