WASHINGTON, DC-Cushman & Wakefield closed three lease transactions in the District in the last 30 days or so, that total 70,180 square feet of office space. They are in buildings in the East End and CBD. Not that these deals are indicative of a shift in the market, C&W Executive Director Michael Katcher tells GlobeSt.com. Each had their own circumstances that helped close the transaction. Nonetheless, he says, "I am encouraged by what I am seeing in the marketplace now."

At 1333 H St., NW, the Institute of International Finance renewed and expanded 43,775 square feet. Katcher, Scott Russi and Theo Slagle negotiated the lease on behalf of the landlord, Miller Global Properties, LLC. Richard Tonner and Zeke Dodson of Cassidy Turley represented the tenant, IIF.

At 1615 L St. NW, Kaiser Associates is taking 15,208 square feet on the top floor with a 10-year lease. Katcher, Russi and Slagle negotiated on behalf of the landlord, Spitzer Enterprises. Jon Olmstead and Steve Schaumberg of CRESA represented the tenant.

Center for a New American Security is relocating its headquarters location to 1301 1152 15th St., via a 11,197-square foot sublease secured a below market rent. Katcher and Slagle negotiated the lease on behalf of the subtenant. Aaron Katz and Mike Shuler of Newmark Grubb Knight Frank represented the sublandlord, Orrick, Herrington & Sutcliffe LLP.

Each deal had specific drivers, Katcher says. For example, the 1333 H St. lease "was a validation of that building. The tenant evaluated the marketplace and saw the value in staying put." The tenant also evaluated the market before deciding to move to 1615 L St. In that case, Katcher says, the renovations and repositioning of the building was an important factor.

In general, Katcher thinks the DC market is slowing moving back to a landlord's market. Concessions are not as deep as they were a year or eighteen months ago. "Now they are negotiated more on a case by case basis."

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C&W Inks 70,180 SF of Leases

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