WASHINGTON, DC-First Transit, a public sector provider oftransit services, has signed a long-term lease for 32,501 squarefeet of space at 1710 17th St., NE here. The company is doublingits space requirements as it services the city’s Circulator Buscontract, according to Newmark Knight Frank principal LisaBenjamin, who represented First Transit in the transaction.
The tenant is moving from Prince George’s County to occupy theDC-based facility, she tells GlobeSt.com. Nordlinger InvestmentCorp. owns the asset and was represented by John Uhar of Uhar &Co. The lease terms were around $12 per square foot.
Located on 2.1 acres, the building will be used asoffice/flex/maintenance space. First Transit liked the space andits additional acreage because it will be able to park its busesthere and offer employee parking, Benjamin says.
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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.
