What's Happening At 370 L’Enfant Promenade
When it acquired the 405,000-square foot building last year the company vowed to launch an aggressive leasing initiative once the improvements were complete.
WASHINGTON, DC–Last year The Georgetown Co., based in New York City, and international real estate investor Meadow Partners, partnered for the first time to buy a property in the southwest submarket of the District: 370 L’Enfant Promenade. They paid $127 million for the 10-story, 405,000 square foot office, which was 70% leased to tenants at that time.
To stay competitive with newer buildings in the area, Georgetown Vice President Peter Armstrong told GlobeSt.com at the time that the company planned to aggressively lease the remaining space once planned renovations are made to the property.
These improvements are still underway but the company has secured a few tenants in the meanwhile.
Most recently St. John’s Community Services has signed a 10,500-square foot lease there. In addition to that, quick casual restaurant West Wing Cafe opened in the building last month.
The upgrades currently underway in the building, include new elevators, HVAC modernization, lobby renovations and a revamped tenant-only gym. The building is leased to a mix of GSA and private sector tenants including the Smithsonian Institute, the Federal Aviation Administration, the Bureau of Prisons, Accenture and others.
Georgetown is also completing two pre-built turn key suites available aimed at either private sector and government tenants.