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Network Realty JV Plans Overhaul of D.C.’s 2100 M St.
A joint venture of Network Realty Partners and Meadow Partners is aiming for a July start on a major overhaul of 2100 M St. NW, an 11-story office building that lost its anchor tenant to new space near L’Enfant Plaza, the Washington Business Journal reported.
Arlington, VA-based Network Realty and New York-based Meadow recently submitted plans to the District to expand the 300,000-square-foot office building, which they acquired from Liberty Property Trust last year for $92.5 million.
The pair has lined up $185 million in acquisition and construction financing, and retained a team including Morris Adjmi Architects to oversee the building’s overhaul and expansion to approximately 420,244 square feet.
2100 M St. was developed in 1969, and now ranks among commodity office properties that are now struggling to attract tenants in the face of a wave of newer development in the vicinity, according to the Business Journal.
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