1301 K Street NW, Washington D.C., DC 20005

Located at the prominent intersection of 13th and K Streets in downtown Washington D.C., One Franklin Square, the office building at 1301 K Street NW, is a distinctive and iconic symbol of the city's architectural landscape​¹â€‹. This 12-story commercial edifice spans an impressive 612,189 square feet and was designed by Hartman & Cox​¹â€‹. Since its completion in 1990, it has housed notable tenants including The Washington Post, Dentons, and Reed Smith LLP, reinforcing its reputation as a sought-after business hub​¹â€‹. The building's commitment to sustainability is evident in its LEED Gold and ENERGY STAR certifications​¹â€‹.

The Downtown Washington, D.C. office submarket, in which One Franklin Square stands, mirrors the dynamics of many other U.S. gateway cities. The market is bifurcated, with activity concentrated in top-tier products while demand for commodity Class A properties and Class B and C buildings wanes. The legal sector plays a significant role in the market, accounting for nearly half of the private sector gross leasing activity​²â€‹. Trends towards higher quality and densification continue to shape the market, resulting in 190,000 sq. ft. of negative absorption. Despite this, the vacancy rate has slightly decreased to 20.3%, largely due to office-to-residential conversion activities. These conversions have proven effective in repurposing obsolete office buildings and easing the record high vacancy rate in the District​²â€‹.