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PBGC Takes 433,000 SF at Portals II

The FCC is currently occupying Portals II until late 2020.

Portals II

WASHINGTON, DC–Republic Properties Corp. has secured the Pension Guarantee Benefit Corp. as the anchor tenant for 445 Twelfth St, SW, a 610,000-square foot building, otherwise known as Portals II. PBGC is taking approximately 433,000 square feet in the building in a 15-year lease that will begin in late 2021 after the current tenant, the Federal Communications Commission, moves out.

The FCC is leaving in late 2020; after that the building will be fully renovated for PBGC’s occupancy. The remaining space in the building — the approximately 167,000 square feet that won’t be occupied by PBGC — has its elevator lobby and street address.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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