Oil Lobbying Firm Confirms Deal To Anchor Capitol Crossing's First Building
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American Petroleum Institute will lease roughly 75K SF and plans to move from its 1220 L St. NW home to Capitol Crossing in late 2018, PGP announced Tuesday. The announcement follows Bisnow's report last week that the two parties were in advanced discussions.
The 12-story, 414K SF office tower will be the first of five planned buildings to deliver at the $1.3B megaproject being constructed above a deck PGP is building over Interstate 395. PGP has already signed a retail anchor for the building, Danny Meyer's Union Square Cafe.
The developer has also broken ground on 250 Massachusetts Ave. NW, a 559K SF speculative office building with ground-floor retail. After that, it plans to build a third office tower at 201 F St. NW, a residential building at 600 Second St. NW and a final office building at 200 F St. NW, each with ground-floor retail. PGP aims to complete the final phase in 2022.
"API will become part of a transformative and vibrant new destination in the District that is taking an innovative and sustainable approach to urban development,” API President and CEO Jack Gerard said in a release. “The eco-focused buildings, retail/restaurant locations, green space and real neighborhood feel will serve our members, business partners and employees well.”