WASHINGTON, DC-Yesterday we reported that PwC took 109,729-square feet at Union Investment Real Estate GmbH (UIRE)'s East End office, located at 600 Thirteenth St., NW.
Cassidy Turley's Phillip Thomas, who along with Zeke Dodson, Kerri Mulligan Salih and Richard Tonner represented the owner, in the deal tells us that the PwC is consolidating space as it moves from its current location at 1301 K St. It currently occupies 130,000 square feet. PwC is taking advantage of a more efficient floor plan and building space to scale back the actual square footage that it will use, Thomas says.
A source tells GlobeSt.com that the lease was in the upper 40s per square foot on a triple net basis with the full gamut of market concessions.
The building was exactly what PwC wanted, Thomas says. "Their search was focused on the East End and Metro Center neighborhood. They were looking for renovated, efficient building in an amenity rich neighborhood right next to metro."
The 12-story East End office is undergoing a major renovation that will deliver next month that includes the building entrance and main lobby, elevator cabs, restrooms and the rooftop terrace. The building also has LEED Silver Certification and is Energy Star labeled.
PwC will move in by July for its 13-year term, taking the 8th, 9th, 10th, 11th and 12th floors of the 232,353-square foot 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.
