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1717 Rhode Island Ave.
Gallup Building
Cellular Communications Association Building
1500 Broadway
Ashbrook
Plaza America
Democratic Senatorial Campaign Committe
NAIFA
National Association of Reators'
NAR Tenant
Gallup Organization

Photos: Maxwell MacKenzie
The Gallup Building
901 F Street, NW Washington, DC

Project Highlights
Karchem's Role: Developer and Equity Partner

For: 901 F Street Venture, LLC

Size: 113,000 RSF

Year Built: 1869 for Masonic Temple

Year Built: 2000

Budget: $33 million

Schedule: 18 months

Awards
Ranked Number 5 - Washington Business Journal Listed in the Top Commercial Real Estate Sales of 2004

2003 Mayor's Awards for Excellence in Historic Preservation – Excellence in Design

Washington Business Journal Best Real Estate Deals of 2000 – Best Rehab

2000 Renovated Project of the Year Greater Washington Commercial Association of REALTORS®

2003 The Washington Chapter of the American Institute of Architects Merit Award Historic Resources

Washington Building Congress Craftsmanship Award Sitework Underpinning

Due Diligence and Acquisition
Karchem Properties identified the historic Masonic Temple and the adjacent parking lot as a potential site for a class A office development. Today, a newly constructed office tower is located on the parking lot and a skylit atrium links the tower to the rehabilitated Masonic Temple. Located in the East End, across from the National Portrait Gallery and 2 blocks from the MCI Center, the Gallup Building is located on the corner of Ninth and F streets. The Gallup Organization is the building's lead tenant. Karchem Properties conducted acquisition due diligence on the land and improvements and negotiated the purchase contract. Prior to placing the property under contract, Karchem assembled the project team to identify architectural, engineering, environmental, and zoning issues related to developing the property.

Historic
Because the Masonic Temple is on the National Register of Historic Places, it was necessary to receive the support of the DC Preservation League and the Historic Preservation Office prior to presenting the preliminary conceptual design to the Historic Preservation Review Board. In 1996, Karchem Properties received unanimous approval for the conceptual design from the HPRB. Karchem Properties worked with legal counsel and the National Park Service to preserve its historic certification and secure historic tax credits. The total value of credits was $1.5 million.

Leasing and Financing
Karchem Properties negotiated leases with the Gallup Organization, which occupies 61,000 SF, and Angelo & Maxie's Steakhouse, which formerly occupied 8,200 SF in the historic building. Other tenants include Fannie Mae, Northrop Grumman Corporation and U.S. Oil and Gas Association. Karchem directed the placement of construction financing following execution of the Gallup lease.

Testimonial
Karchem Properties deserves accolades not only for preserving the Masonic Lodge, but also for resisting the all-too-common impulse of adding onto historic buildings with new architecture that is historicist in design. The city is a melding of old and new and the Gallup Building at 901 F Street, NW is an excellent example. Sally Berk, president of the DC Preservation League from 1996 to 1998