The Washington times., 1924-03-08
NEW BUILDING
IS NEARLY
READY
Office Structure at Fifteenth
and K Will Be Ready
July I.

AT the northwest corner Of FIJI.
teenth and K streets. three blocks
north Of the White House, the new
est and one Of the finest Of WASH
ington's office buildings is now re-
ceiving its finishing touches.
The Investment building is prac.
tically completed ON the outside,
out some work remains to be done
on the 500 offices and thirty-one
stores that will be made available
story business structure. Rapid
progress is being made on this in.
terror work, however, and occu-
pancy on the scheduled date, July
/, is assured.
Many novel and interesting fea-
lures are embodied in this newest
business addition to the Capitals
many fine buildings. Chief among
these points Of attraction is the
provision for automobile parking
space in the basement. The Invest
ment building is the first office
structure in the East to adopt this
modern convenience, which will un.
0oubtedly prove q real boon to the
business men who have had to con-
tend with the parking difficulties
existent in downtown Washington.
Two hundred cars can be accom-.
modated without crowding, easy
tngress and egress being provided
by two conveniently located ramps.
Although the Investment building
10 eleven stories in height and viii
house upwards Of 1000 to 1850
occupants during business hours,
prompt access to the various floors
at all times is provided by six high.
speed elevators. Express service
will be maintained for the upper
floors, and a separate freight eleva-
tor at the rear Of the building will
preclude annoyance from the NOV
Ing Of office equipment and freight
for tenants.
A public information bureau will
be installed in the main lobby Of
the Investment building, which will
furnish data regarding trains. the.
aters, hotels, current events, etc.,
to the general public as we'll as to
occupants Of the building itself.
This will be feature exclusive to
the Investment building in Wash.
1ngton, and will undoubtedly aid
greatly in drawing people to the
newer business section.
A large number Of the offices and
some Of the stores are already
leased. It Is anticipated that the
building will be all or very nearly
rented by the time it Is ready for
occupancy on July /. The rental
agents are preparing a sample suite
Of offices on the third floor with
q complete equipment Of office
furniture. This suite win be opened
to the public for inspection within
q week or ten days, and will serve
to give a practical idea Of how the
offices will appear when completely
finished and occupied.
An unusual business opportunity
is presented by the shops and stores
Of the Investment building. These
consist of lobby shops and stores
on the ground floor, and bright,
roomy shops on the floor above
The 500 offices Of the building viii
provide around 1000 customers
right in the Investment building
itself, which, with the numerous
business buildings in the neighbor-
hood, form an excellent trade in.
centive to those seeking q store
location in the new business section.
A first mortgage bond issue Of
$2,50O,0 900, secured on this property.
was underwritten by the F. H.
Smith Company. These bonds bear
0h per cent interest and pay Dis
trict Of Columbia, State and income
taxes which bring their yield to
7.13 per cent. 1t is reported that
all but small portion Of this offer
ing has been absorbed, and the few
remaining bonds are finding a
ready demand now that the building
Is nearing completion.