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Tishman Speyer, one of the biggest property owners in DC, has already begun its latest project to little fanfare. The 37-year-old, 113k SF Presidential Plaza, its office building at 900 19th St NW, is being repositioned into a "boutique" trophy office building, with floor-to-ceiling glass.
The news was revealed earlier this month when American Continental Group announced it was moving out of the building because its lease was terminated to make way for new development. ACG, repped by The Ezra Co, is now leasing 13k SF at 1800 M St NW.
The ground floor was home to the British pub Elephant and Castle, also forced to vacate the building. Tishman Speyer declined comment through a spokesperson, saying it is not yet ready to discuss the project. Although Tishman Speyer's DC operation likes to keep a tight lid on its projects, it certainly is of note when work has already begun on a project (we snapped this picture yesterday) and the developer elects to reveal very little.
From Tishman's website, we gather that the reposition will include a redesigned lobby, rooftop, fitness center, elevator, restrooms and HVAC. The developer is in the process of developing a new CBS News HQ nearby on M Street, and Presidential Plaza is a few blocks away from Skanska's latest development, 2112 Pennsylvania Ave NW, which started construction on spec and signed Cleary Gottlieb to occupy almost half of the building three months later.
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