Ideally located along the K Street corridor in the heart of the city's Golden Triangle Business Improvement District, 1600 K Street, NW is an 80,000-square-foot office building with prime street-level retail space. ICG Properties acquired the eight-story building in late 2002 with minority partner Fidelity Real Estate Group of Boston, and has since completed a substantial capital improvements program that included a comprehensive HVAC system upgrade. ICG acquired Fidelity's interest in 1600 K Street in 2004 in a recapitalization valued at $27 million.

Repositioning efforts for the property, known as the World Center Building, have also included new property management, tenancy upgrades and a major new lease with PJ Clarke's of New York to anchor the building's prominent street level identity. The building is now 80% leased, with such tenants as the, Factiva (Dow Jones Reuters), Control Risks Group LLC., Starbucks, P. J. Clarke's, National Veteran's Legal Services (NVLSP) and Studio27 Architects.

In February 2011, ICG structured a further recapitalization with the JBG Companies at an attractive valuation that preserved ICG's ownership and provided an exit for its institutional partner while positioning the property advantageously for ICG's development of the adjacent 910 16th Street parcel with JBG.