WASHINGTON, DC—East End property owner Ponte Gadea Group is keeping its marquee tenant LivingSocial. The company renewed its 52,500 square feet at 1445 New York Ave., NW.
JLL's Stephen J. Burman and Jay Farmer represented LivingSocial in the lease transaction. CBRE's Carroll Cavanagh and Mark C. Klug represented the building owner, Spanish real estate investment company Ponte Gadea Group.
"We evaluated many options in the market and LivingSocial determined that the existing headquarters location best served their needs," Farmer says in a prepared statement.
Known as the Suntrust Bank Building, 1445 New York Ave. is a 125-year-old, 158,000-square-foot building.
Listed on the National Historic Registery, it was first developed in 1888 and then renovated to add a nine-story addition in 1916. More recently Fox Architects did some renovation work, including upgrading the core lobbies, restrooms, elevator cabs and fitness center.
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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.
