MBA moved into the building last June after purchasing it while it was under construction the previous January. The association is occupying about 72,300 square feet on floors two through five; Transwestern has been charged with leasing out the remaining space in the 10-story building. Aside from the pending NOI, the most recent deal inked was with the Soap & Detergent Assoc.; a 10-year, 9,758-square-foot deal. Mark Richardson and Jackie Raff of Transwestern negotiated that particular transaction; Geoff Kieffer and Jennifer Kurz of Woodmark represented the tenant.
The association will move into 1331 L St. on August 1, 2009, from its current location at 1500 K St., NW. Other recent leases include NAVA, Climate Change Capital, Clark Nexsen and Pizzeria Authentica--deals that have brought the building's occupancy rate to 51%, according to a Transwestern spokeswoman. There is approximately 159,000 square feet of office space and 12,000 square feet of retail space at 1331 L. It's been certified Gold LEED C&S by USGBC and was designed by SmithGroup. Asking rates for the space are $55 per square foot.
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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.
