Swedish contractor Skanska says it has acquired about 3,000 sq. m. (about 32,290 sq. ft.) of land in Washington, DC. for $30 million. The seller is Brandywine Realty Trust.
The site at 25 M St. S.E., is located south of the United States Capitol and within close proximity to notable retail, dining, and entertainment establishments such as Nationals Park. This acquisition marks Skanska’s tenth commercial venture in Greater Washington, DC metro area, and one of the few remaining opportunities for a core development site near the Capital Riverfront.
Since 2009, Skanska USA Commercial Development has invested more than $3 billion in commercial and multi-family projects, creating more than 1 million sq. m. of sustainable and community focused developments in select U.S. markets.