CarrAmerica and Douglas Development Announce the Completion of the Atlantic Building in Washington, DC
28 6월 2006 - 12:17AM
PR Newswire (US)
WASHINGTON, June 27 /PRNewswire/ -- CarrAmerica Realty Corporation
(NYSE: CRE) and Douglas Development Corporation today announced the
completion of The Atlantic Building. Located at 950 F Street, NW,
bordering the historic Ford's Theatre, The Atlantic Building is a
ten-story, 280,000-square-foot office and retail project.
CarrAmerica's wholly-owned subsidiary, CarrAmerica Urban
Development, LLC, developed the project for Douglas Development,
the property owner. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO ) "Our
collaboration with Douglas Development has produced a rich new
addition to the fabric of F Street," stated Bob Carr, President of
CarrAmerica Urban Development, LLC. Mr. Carr added, "We're
extremely pleased to see Shalom Baranes Associates' design come to
life in this exciting, 24-hour neighborhood. We love how the new
architecture, historic preservation, museum design, commissioned
artwork, street-level retail and retail space for Ford's Theatre
mesh to form an extraordinary, mixed-use project." Alston &
Bird LLP, a major national law firm, has leased 118,849 square feet
of the project and occupied its space in May 2006. Additionally,
the Pharmaceutical Research and Manufacturers of America (PhRMA)
has leased 67,735 square feet and occupied its space in April 2006.
The office space in the project is 80% leased to these two tenants.
In addition to providing development management services for The
Atlantic Building, CarrAmerica is providing leasing and property
management services. CarrAmerica is also providing mezzanine
financing for the project. The Atlantic Building is comprised of
the integration of: four restored historic facades located
mid-block on F Street, including that of the original, circa-1897
Atlantic Building; three restored historic townhouses at the corner
of Tenth and F Streets; and a new, state-of-the-art office building
that rises behind and above these historic structures. Construction
of the project began in January 2004. Douglas Jemal, the founder of
Douglas Development, has played an important part in the resurgence
in economic growth in many areas of the city, notably Shepard Park,
the Howard University area and NOMA (north of Massachusetts
Avenue), and the redevelopment of the Historic People's Warehouse
and many other historic districts. Douglas is currently focused on
the redevelopment of the F Street corridor, with many prominent
properties such as the Woodward & Lothrop Building; the
American Institute of Architects Catalyst Award- winning LeDroit
and Atlas buildings at 800 F Street, home to the International Spy
Museum; and Jemal's Lofts, 62 residential loft units to be located
at 912 F Street. For more information, please visit
http://www.douglasdevelopment.com/. CarrAmerica Urban Development,
LLC is currently developing projects with an estimated total value
of $900 million. In addition to The Atlantic Building, these
projects include: The Shakespeare Theatre and The International
Union of Bricklayers and Allied Craftworkers (BAC) headquarters
building, a mixed-used development comprised of The Harman Center
for the Arts (home to The Shakespeare Theatre) and the headquarters
offices for BAC, which is scheduled for completion in fall 2006;
the Freedom Forum/Newseum building at Pennsylvania Avenue and Sixth
Street, which will encompass museum, office and residential
components and is scheduled for completion in 2007; and 1199 F
Street (also owned by Douglas Development), a 250,000 square foot
office and retail building, scheduled to begin construction in June
2006. Recently completed projects include: the International
Monetary Fund's 650,000 square foot office building at 1900
Pennsylvania Avenue, which was completed in May 2005; Terrell
Place, a 534,000 square foot office, retail and residential complex
on the site of the old Hecht's department store, which was
completed in September 2003; The Residences at Terrell Place, a
29-unit residential condominium complex, located at the corner of
Seventh and E Streets, which was completed in September 2003; 1750
H Street, a 111,000 square foot office building completed in
October 2002; 799 Ninth Street, a 201,000 square foot office
building completed in November 2001 in a joint venture with DRI
Partners; and 1201 F Street, a 227,000 square foot, Class-A office
building in the heart of the East End submarket, which was
completed in April 2000. CarrAmerica owns, develops and operates
office properties in 12 markets throughout the United States. The
company has become one of America's leading office workplace
companies by meeting the rapidly changing needs of its customers
with superior service, a large portfolio of quality office
properties and extraordinary development capabilities. Currently,
CarrAmerica and its affiliates own, directly or through joint
ventures, interests in a portfolio of 287 operating office
properties, totaling approximately 26.4 million square feet.
CarrAmerica's markets include Austin, Chicago, Dallas, Denver, Los
Angeles, Orange County, Portland, Salt Lake City, San Diego, San
Francisco Bay Area, Seattle and metropolitan Washington, D.C. For
additional information on CarrAmerica, including space
availability, visit our web site at http://www.carramerica.com/.
http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO
http://photoarchive.ap.org/ DATASOURCE: CarrAmerica Realty
Corporation CONTACT: Maureen C. Wheeler of CarrAmerica Realty
Corporation, +1-202-729-1756, Web site: http://www.carramerica.com/
http://www.douglasdevelopment.com/
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