2020 K Street

About the building

Located in the Golden Triangle of Washington’s downtown core near George Washington University and Washington Circle, 2020 K Street is an 11-story office and retail building originally built in 1974 and renovated in 2004. It has over 400,000 rentable square feet, with an additional area of nearly 11,000 square feet given over to various amenities, including a conference center/tenant lounge area, a fitness center, bike room and rooftop terrace.

Investment rationale

Washington’s downtown core is the fourth largest central business district in the United States, and 2020 K Street’s prime location in the west end of downtown is conveniently located less than four blocks from the Farragut North, Farragut West, and Foggy Bottom Metro stations, which provide access to four of Washington’s Metro lines (Blue, Orange, Red and Silver).

Like many downtowns in recent years, Washington’s Golden Triangle has seen a resurgence in the number of people living in the area as well as working there. This means that it not only benefits from having prime office space in a desirable location, but that its restaurant and retail outlets benefit from the daily working population as well as the increasing resident population.

2020 K Street is owned by one of LaSalle’s custom accounts clients.

Improvement works

In an effort to strengthen the building’s sustainability credentials and lower operating costs, LaSalle’s asset management team undertook a series of improvement works, which included:

• Implementing a comprehensive recycling program including e-waste disposal by a certified vendor
• Installing variable frequency drives on relief fans, cooling-tower fan and condenser water pumps
• Replacing chiller plant controls
• Reducing actual HVAC hours with tenants to lower energy consumption
• Installing wireless lighting control system throughout the building and in the parking garage
• Retrofitting light fixtures with energy-efficient light bulbs
• Installing efficient water closets in the restrooms

As a result of the improvement works undertaken, over 80% of the building’s total solid waste being recycled. Energy consumption has also been substantially reduced – by over 500,000 kWh per year – which has meant annual utility savings of over $150,000.

Recognition

2020 K Street achieved LEED for Existing Buildings Gold certification in 2013; and its ENERGY STAR score increased from 67 to 83. The building is also WELL Health + Safety rated.