Preferred Office Sets Up Shop on 16th St.

WASHINGTON, DC-Preferred Office Club joins the tenant roster at 888 16th St., a 138,000-sf office building owned and partially occupied by the Motion Picture Association of America. The company, which provides turn-key office space, will open the new 25,600-sf locale in December.

By Barbra Murray | August 30, 2004 at 11:38 AM

The 35-year-old property underwent a sweeping upgrade 10 years ago and is currently 95% occupied. The 16th St. site is expected to open this December and will mark Preferred Office's fifth location in the District.

Specific terms of the new tenant's lease agreement have not been disclosed. Grubb & Ellis Co., which represented the property owner in the transaction, markets office space at $42 to $44 per sf. Carr Real Estate represented Preferred Office in the deal.

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