The arrangement was orchestrated by representative Jones Lang LaSalle and will begin four years from now. Financial terms of the lease have not been disclosed; however, space at class A properties in Georgetown goes for an average $36 per sf, according to Advantis Real Estate Services Co.'s Office Market Monthly Survey for August.
Washington Harbour is a popular locale for businesses as evidenced by other early lease renewals, including that of law firm Collier & Shannon, which renewed 177,000 sf for 12.5 years. The two-building property was developed in 1986 and upgraded in 2002. The office facility also offers a fitness facility, a two-level underground parking garage, and a ground-level retail segment featuring restaurants and other retail offerings.
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