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Philips Electronics North America Signs 10-Year Lease at 1050 K St.
Philips Electronics North America has signed a 10-year, 6,629 RSF lease at 1050 K Street, a 136,000 SF LEED Gold certified commercial and retail office building. The 11-story jewel-box design by Hickok Cole incorporates the natural elements of air, water, earth and light with features such as a sky garden, views of the City, a fitness center and private art galleries.
Trip Howell and Amy Bowser of Jones Lang LaSalle represented Philips Electronics, while Randell C. Harrell, Executive Vice President, Brokerage Services; CB Richard Ellis represented the owners. Philips joins Knoll, Shell Oil, Glaxo Smith Kline, Baker Daniels and The Shaw Group as tenants in the building. Occupancy is scheduled for early 2010.
1050 K Street, which is located near public transportation and the Walter E. Washington Convention Center, was previously a paved parking lot which was replaced with a building capable of retaining its own storm water and that of its site while using the storm water for irrigation of the street planters and the green roof. The collected storm water is distributed on the site by means of a bio-retention system.
Philips is a diversified Health and Well-being Company and a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products such as flat TV, male shaving and grooming, portable entertainment and oral healthcare. Philips is committed to reducing its environmental footprint in all aspects of its business: in the products, manufacturing, and procurement, as well as in the communities where the company acts and in the working practices of its employees.