Skanska's Washington office project surprises industry observers

03/22/2010 | Washington Post, The

Skanska is breaking ground on a speculative office in Washington with no preleases. It goes against current economic and development trends, but the Swedish developer says it is a smart move. It is building the office with its own funds and demand for the downtown location is likely to be high. "We want to prepare ourselves to be a strong developer in the market in the next [up] cycle," says Robert Ward, executive vice president.

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