815 Connecticut Avenue presented a unique challenge in that this project required a complete repositioning in the marketplace. While the 260,000-square-foot building enjoys an excellent location on Farragut Square with rare White House views, it was perceived as a substandard property and much of the space had remained vacant for an extended period. Akridge launched a comprehensive campaign in 1992 to create maximum value for the ownership - an extensive replacement program for the exterior façade, HVAC, and roof; implementation of a complete accounting and financial reporting system; and an effective leasing effort - which ultimately proved successful in turning around the fortune of this grand building.
815 Connecticut Avenue was acquired by SPP Real Estate, Inc. in 1998.
