Banyan Street Capital has recently acquired 1250 H Street, a Class A office building in Washington D.C. This marks their first office acquisition and they plan to utilize the resources of domestic global high net worth and family offices, as many traditional institutional partners are currently inactive.
Built in 1992 in the East End submarket of D.C., this property is located at the prominent corner of 13th Street, just a few blocks from popular destinations such as the White House and CityCenterDC mixed-use development.
Banyan’s capital plans for this property include prioritizing tenant satisfaction by renovating and expanding the upscale lobby. They also plan to create move-in ready suites tailored to meet demand from tenants in the D.C. market.
In addition to managing this property, Banyan will oversee all capital improvements. They have enlisted Cushman & Wakefield’s team consisting of Phil Dickinson, John Benziger, and Chris Getz for leasing advice and execution services.
