Capitalizing on Capitol Views
601 New Jersey Avenue is a nine-story state-of-the-art commercial office building with a secure underground parking facility, offering a first class office environment commensurate with its proximity to the Capitol building and monumental Washington. The building was designed with extremely flexible, Class A office space appropriate for a governmental headquarters facility. The project responded successfully to the federal government’s need for prime downtown office space, especially in the Capitol Hill submarket near Union Station. Eighty percent of the building’s 275,000 square feet was pre-leased to the Government, under the auspices of the General Services Administration. Seven of the nine floors of the project were constructed pursuant to a design-build procurement administered by GSA on behalf of the Federal Trade Commission. The remainder of the project was leased under GSA design-build procurements to two smaller Government agencies. In the development of this prominent urban site, Lowe successfully managed the design and construction of this project with GSA and the Federal Trade Commission. The building was sold to an institutional investor just prior to its on-time and on-budget completion in 2002.