Skanska invests $216M in Washington DC office development

ConDig (23-Sept-21).  Swedish developer and contractor Skanska is to invest $216 million in the 17xM office development project in Washington, DC. 

The company said that the project will involve the building of a 30,700 square meter, 11-story office building located in Washington, DC’s Central Business District.

Construction on the project is slated to start in the fall of this year and scheduled to be completed in 2024.

The company said that the construction contract is worth $105 million, which will be included in its US order bookings for the third quarter 2021.

Skanska has signed a 16-year lease agreement with the global law firm Gibson, Dunn & Crutcher LLP for about 15,200 square meters of the development.

Last month, Skanska landed a $82 million deal to build an interchange at Interstate 75 (I-75) and Big Bend Road in Hillsborough County, Florida.

In July, Skanska signed a $248 million contract to upgrade an existing corporate campus in Long Island, New York.

The company said it had sold off its US multi-discipline design firm PCI Skanska Inc (PCIS) for $20 million in June. 

In May, Skanska made a record investment in its biggest office development project in Bellevue, Washington. It plans to develop and build a 25-story, 50,300 square meter office tower called The Eight for an investment value of $476 million. 

In April, a joint venture led by Skanska landed a $308 million contract for a Signia by Hilton hotel in Atlanta, Georgia.

Skanska secured a $73 million contract for a multi-purpose event center in Clarksville, Tennessee, also in April.

In December, Skanska bagged two contracts in Georgia and Florida worth a total of $120 million. It also signed an additional $80 million contract to expand Portland International Airport, Oregon.

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