Wednesday, July 19, 2006
The Hertz building at 11th Street and New York Avenue in downtown Washington DC has finally yielded to development. The unsightly, 2-story building that housed the local Hertz car rental was for years about the only active business in the vicinity, but had recently become overwhelmed by the nearby development surrounding the old Convention Center. The property sold in 2004 to Tishman Speyer for $21m, but Hertz's lease continued until recently, and Hertz closed the office in May. Demolition began this month to make way for an 11-story, 173,000 s.f. office tower to match development underway on all sides of the project. Upon completion in Spring 2008 the building will offer about 10,000 s.f. of street-level retail and 10 stories of office space. No tenants have yet been announced for the project.