• Type

    Office

  • Fund

    Fund II

  • Address

    1901 L Street, NW
    Washington, DC 20036

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1901 L Street

Washington, DC

Property Overview

The Property is currently improved with an eight-story, 132,372 SF Class B office building and is situated at the prominent northeast corner of 19th and L Streets in the Central Business District (“CBD”) submarket of downtown Washington, D.C.  According to the leasing broker community, this is one of the best intersections, if not the best intersection, in downtown Washington, D.C (comparable to Connecticut Avenue & K Street).  At closing, the Property will be 73% leased to two retail tenants (Staples and Sweetgreen) and a mix of 15 office tenants.

The Property is within two blocks of four metro lines via the Farragut North (red) and Farragut West (orange, silver, and blue) metro stations.  Further, 19th Street boasts extra wide, pedestrian friendly sidewalks and is known as the CBD’s “Restaurant Row,” featuring the largest concentration of fast casual restaurants and eateries with outdoor seating downtown.

Investment Strategy

Given its irreplaceable location in the heart of the CBD, existing vacancy and a number of tenants rolling in the near term, Meridian believes this investment is a compelling repositioning opportunity.