Besides needing the additional space, Apptis also wanted to upgrade the image of its location, O'Brien tells GlobeSt.com. The 10-story, 400,000-square-foot 370 L'Enfant Promenade also offers the company greater efficiencies with its space, he adds. The company's proposed move-in date is October 1.
Other tenants in the building include Smithsonian Institute, Accenture and the Department of Agriculture. The immense building was close to full occupancy before the Apptis lease, O'Brien says. It is still not fully occupied yet, however, as there are small pockets of space remaining.
The SW and SE quadrants of the District are keeping their vacancy rate at relatively benign levels thanks to the government presence in these areas. For example, last week the Bureau of Land Management inked a 94,435-square-foot lease at 20 M St., SE, anchoring Lerner Enterprises' spec 190,000 square foot office 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.
