Skanska and UBS ink lease for 17xM office tower in Washington, D.C.

Press release 4/12/2023 7:00 AM EST

UBS will occupy 23,644 SF of the recently topped-out trophy office project

WASHINGTON, D.C. – Skanska, a leading global development and construction firm, today announced it has leased 23,644 square feet of its forthcoming mixed-use development, 17xM, to UBS, the leading global wealth manager, for a 12-year lease. Skanska recently topped out on the 11-story, 334,000-square-foot trophy building which is scheduled to deliver in 2024.

“17xM is a one-of-a-kind project that is reinventing the downtown D.C. office experience through an “inside out” design that will improve the day-to-day lives of its users,” said Mark Carroll, Executive Vice President and Regional Manager of Skanska USA Commercial Development’s D.C. market. “We’re very excited to announce UBS as the second lease to be signed at 17xM.”

UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide. The firm offers investment solutions, products and impactful thought leadership, and is the leading global wealth manager, providing large-scale and diversified asset management and focused investment banking capabilities.

Skanska previously announced that it leased 163,750 square feet of the building to the international law firm, Gibson, Dunn & Crutcher LLP, for a 16-year lease. Gibson Dunn will occupy more than 50 percent of the office space.

The project is targeting LEED Gold, and Fitwel certifications. 17xM has achieved WiredScore Platinum and is the first SmartScore-certified office building in North America. Skanska has teamed with Kohn Pedersen Fox (KPF) architects along with consultants at Arup and Siemens to curate 17xM’s digitally connected environment and top-tier amenities package.

Since breaking ground in 2021, 17xM has received industry awards and recognitions from the Washington Business Journal, NAIOP, Commercial Property Executive and CREW DC.

Cushman & Wakefield represented UBS, while CBRE represented Skanska in the transaction. Inquiries for remaining office space may be directed to Randy Harrell, Jill Goubeaux, Joe Coleman and Lara Nealon at CBRE.

In the Greater Washington area, Skanska has developed 2112 Pennsylvania Ave, the first commercial office building in Washington, D.C. to receive the WELL Health-Safety Rating and 1776 Wilson Blvd., Northern Virginia’s first LEED v3 Platinum project. Skanska’s current projects in the Greater, D.C. area include: OZMA, a 12-story, mixed-use development with 275 luxury apartments in Washington; 3901 North Fairfax, a nine-story, 201,000-square-foot office building with ground-floor plaza and retail in Arlington; and The Heming, a 28-story, 410-unit luxury apartment building in Tysons.

More information can be found at 17xmdc.com.