ACC will move into the Station Place Three--a roughly500,000-square-foot, ten-story building--after it delivers insummer 2009. Located next to Union Station, the building is a jointventure development between Louis Dreyfus Property Group and FisherBros. ACC is the first tenant to sign a lease there. Several JonesLang LaSalle brokers represented ACC: managing director GregoryLubar and Vice President Eric Antonini from brokerage, and vicepresident Mark Montgomery and SVP Colin Haynes from project anddevelopment services.

Asking rates for class A space in Capitol Hill--when there isspace available in this tight submarket--tends to run between themid to high $50 per square foot range, full service. ACC consideredmost of the available buildings in Capitol Hill and nearby NoMa,Lubar tells Station Place Three is being designed tomeet LEED Silver certification, which was also important to ACC, headds.

In this market, a new 90,000-square-foot lease is a coup, Lubarsay. "Everybody is considering renewals right now because of theeconomy." However, he adds, there are still large deals out therelooking for new space. "Just less than before."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at 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.