Skanska has acquired a 32,394 square-foot site in Washington, D.C.’s Capitol Riverfront neighborhood for US$30 million (about SEK 280M) from Brandywine Realty Trust.
The site at 25 M Street Southeast, is located south of the United States Capitol and within close proximity to notable retail, dining, and entertainment establishments such as Nationals Park.
Skanska siad this acquisition marks its tenth commercial venture in Greater Washington, DC metro area, and one of the few remaining opportunities for a core development site near the Capital Riverfront.
”25 M Street is one of the last core development sites in the Capitol Riverfront and the last piece of redevelopment on Half Street Southeast,” the company noted.
“The Capitol Riverfront is an incredibly vibrant neighborhood in the heart of Washington, D.C. that has received national recognition for its mix of office, retail, residential, and entertainment.” said Mark Carroll, Executive Vice President at Skanska USA Commercial Development’s Washington, D.C. market. “As we continue to grow our local footprint, we are excited to diversify our Washington, D.C. offerings while continuing to develop projects in the most vibrant corners of the city.”