Achieving one of the largest disposition prices ever in the greater Washington, DC office market, JLL Capital Markets brokered the sale of 1801 K Street to Mirae Asset Global Investments for $445 million, or approximately $781 per square foot, in late 2014. Here is the story. Learn more: http://www.us.jll.com/1801

1. 1801 K Street trades owners in
record-setting deal
JLL maximizes value in Washington, DC
2015

2. In 2009, the building owner,
Somerset Partners, knew they
needed to reposition the asset.

3. Located blocks from the White
House, the Class B, 569,800-square-
foot office building had the potential
to become one of the Washington,
DC CBD’s preeminent trophy office
buildings.

4. JLL’s Project and Development Services
team selected architect Skidmore,
Owings & Merrill to lead a $100 million
renovation, which included...
Project and Development Services

5. Exterior
façade
renovation
with an energy-
efficient glass
curtain wall.

6. 200-linear-foot commissioned light sculpture
by LED artist Leo Villareal.

7. New
lobbies
at two
entrances.

8. Through seamless delivery and strong risk mitigation,
the full scope of work was successfully completed
after an 18-month renovation period, during which
the building was more than 75 percent occupied.
JLL’s Agency Leasing team targeted the market's
historically top-tier firms, which led to leases with the
Federal Reserve, JLL, SRA International
and Lockton Insurance.
JLL’s Agency Leasing

9. Class A building services
were cohesively provided by JLL Property Management.

10. JLL Move Management relocated over
50,000 square feet
of tenant space to accommodate the renovations.

11. JLL’s collaborative approach
primed 1801 K for sale.

12. 1801 K Street was introduced to
investment professionals in Seoul via a
private placement marketing campaign.
JLL corporate office

13. JLL Capital Markets brokered the record-
setting sale to South-Korean based investor,
Mirae Asset Global Investments, at
$445 million, or
781 p.s.f.
JLL Capital Markets

14. $267 million in
financing
was secured on behalf of the new owner.
MetLife provided the five-year, fixed-rate loan.

15. JLL’s ability to provide complete and varied
services throughout the investment lifecycle
led to this record-breaking sale in metro
Washington, DC.

16. COPYRIGHT © JONES LANG LASALLE IP, INC. 2015
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