WASHINGTON, DC—OTJ Architects is taking 14,234-square feet at 555 11th St., NW. It is New York City-based landlord Rockrose Development Corp.s first lease at the 422,354-square foot East End building since it acquired it last year almost to the day for $300 million.

OTJ will be occupying offices that were recently vacated by the Federal Bureau of Investigation and the Department of Homeland Security. The space itself is a unique configuration, understandable given the previous occupants, which Rockrose described as a "building within a building." There is also a separate entrance for the tenant.

OTJ Architects was represented by Matt Levin and Ganon Rich of West, Lake & Schlager. Rockrose was represented by Randy Harrell and Scott Frankel of CBRE, together with Rob Fink, Rockrose Director of Commercial Leasing.

Rockrose is getting ready to renovate the lobby and make other improvements to the building, including building out 3,500 square feet to 6,500 square feet high-end office suites on the vacant fourth floor. The asking rents for those suites will be in the mid to upper $40s, triple net.

The building is 92% leased to a number of businesses and nonprofits including its anchor tenant Latham & Watkins LLC, which occupies 58% of the building.

Indeed, the law firm had signed a 15-year renewal as the building was trading.

Rockrose's purchase last year resolved a troubled situation; at one point the building had been placed with a special servicer. Rockrose purchased the 14-story building from Ralph Dweck via the Lincoln Circle Associates LLC.

Instant Insights /

Rockrose Signs 1st Lease at Lincoln Square One Year After Buying It

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