Commerz Real Inks Full-Floor Deal at DC Trophy Office
The Dupont Circle office building is now 92 percent leased.
Germany-based Commerz Real AG, part of Commerzbank Group, has landed a full-floor lease at 1900 N St. NW, a 256,000-square-foot Class A office building in Washington, D.C. JLL negotiated on behalf of the landlord, while Savills represented the tenant, law firm Brown Rudnick.
The tenant will occupy 27,513 square feet at the 11-story office property, according to CommercialEdge. With this deal, the property reached 92 percent occupancy, with 18,000 square feet now available for lease. Other tenants at 1900 N St. NW include Beveridge & Diamond, Goodwin Procter and CBRE.
The same source shows that the current ownership picked up the asset in 2022, when it paid $31.3 million to seller JBG Smith.
Completed in 2019, the glass-wrapped office property features 27,777-square-foot floorplates and ample column spacing, a 4,000-square-foot fitness center, an on-site bike locker, a conference center and 1,700 square feet of retail space. Additional features include a three-story column-free lobby, a more than 8,000-square-foot private rooftop space with indoor and outdoor amenities, as well as on-site restaurant options.
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The office building rises at the corner of Nineteenth and N streets, within the city’s Central Business District and on the South side of Dupont Circle. The property is 5 miles from Ronald Reagan Washington National Airport, 7 miles from Bethesda, Md., and 29 miles from Dulles International Airport.
The Savills team working on behalf of the tenant included Vice Chairman Gary Stein, President David Goldstein, Senior Managing Director Jon Glass and Assistant Director Owen Jaccard. The ownership was represented by JLL’s team of Senior Vice Presidents Kristen Mathis and Thomas Myers, together with Executive Managing Directors Evan Behr and Doug Mueller, who are the exclusive leasing brokers for 1900 North St.
Notable leasing deals in D.C.
Washington, D.C.’s office vacancy rate was 16.2 percent as of June, a recent CommercialEdge report shows. The figure was lower than the national rate of 18.1 percent, as well as Manhattan’s 16.6 percent and Chicago’s 19.2 percent.
Recent notable office leases in the metro include BGR Group’s expansion and renewal for more than 40,000 square feet at the Homer Building. The historic, 460,000-square-foot landmark is owned by Mitsui Fudosan America Inc., represented in negotiations by JLL.
One of the most significant leases so far this year remains The Washington Post’s 300,000-square-foot renewal at One Franklin Square, signed in early 2024. The media publisher has been a tenant at the 612,189-square-foot building since 2016.
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