This lease, plus a pending commitment, will bring the building's occupancy rate to 25%, Frankel tells GlobeSt.com. Asking rates for the building are low to mid-30s, triple net, he adds. Triple net asking rates are a growing trend among DC office buildings, which began three years ago and have accelerated since the downturn last year.
AAR will be moving from 50 F St. this September. This is not an expansion for the association, Frankel says. The decision to move was partly because of the closer proximity to Capitol Hill, he says, and partly "because it recognized a better value in this building."
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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.
