Skanska USA announces new speculative office building for D.C.’s Capitol Riverfront Submarket

Skanska USA Commercial Development announced plans Wednesday to start speculative development for 99M, an 11-story, 234,000-square-foot Class A office building with ground-floor retail/restaurant space in Washington’s Capitol Riverfront submarket.

Skanska is self-financing the development costs, which are $116 million.  Skanska also will serve as the project’s construction manager with work scheduled to begin later this summer. The building is expected to be completed in the fourth quarter of 2017.

Located at the corner of First and M Streets Southest, 99M will include about 220,000 square feet of office space, with approximately 11,000 square feet of retail/restaurant space on the ground floor. 99M is designed to LEED (Leadership in Energy and Environmental Design) gold standards.

“99M’s location, design and amenities capture the vitality of the area, and the energy and personality of the Capitol Riverfront,” Rob Ward, executive vice president for Skanska USA Commercial Development, said in a statement.

The typical office floor will be about 22,000 square feet. Amenities will include a 4,300-square-foot, tenant-only health club and locker room, a 4,750-square-foot rooftop terrace with covered and outdoor collaborative areas, bicycle storage and a maintenance station, an electric car-charging station and Wi-Fi.

Carbon dioxide sensors that monitor and regulate fresh airflow and an extensive green roof to allow for filtration and storage of storm water will be among the building's sustainable features.

Skanska USA Commercial Development invests in and develops office and multi-family properties in Boston, Houston, Seattle and Washington, D.C.  Since 2008, Skanska said it has invested about $1 billion in nearly a dozen projects in its select markets.