WASHINGTON, DC-The National Parks Conservation Association is moving its headquarters to 777 6th St., NW, taking 32,979 square feet. It represents positive absorption for the District as the association is taking 32% more space in the 10-year deal with MEPT/NewTower Trust Co. Eric West and Mindy Saffer with West, Lane & Schlager represented the association.

The NPCA plans to occupy the 187,937-square-foot building in December of
2010. The association presently has 25,000 square feet of space at
1300 19th St., NW. The NPCA considered the entire District as a site, including Capitol Hill, the CBD and the East End. It was looking for LEED-certified space at, or below, its current rent in a 24/7 neighborhood with retail amenities near the Metro and close to Capitol Hill.

When the association and WLS began planning the move in 2007 its projections were skewed by the then-high rental market, which limited the neighborhoods in which it could locate. Pricing obviously shifted in 2009 allowing the NPCA to grab more space at a comparable rent, West says.

Despite some signs of tightening, the DC area is still, by and large, a tenant’s market. Figures recently released by Studley show that while there has been a stabilization in vacancies and rental rates there has also been little tangible growth.

The exceptions are trophy space in the best parts of town such as the East End and the CBD, where landlords are gaining the upper hand. However, for commodity class A space tenants still rule.