Among NPR's list of new neighbors is building owner and lead tenant--with 100,000 sf--the International Brotherhood of Electrical Workers, which acquired the building in June from developer Akridge for approximately $104 million.
Akridge's Wilbur Pace and P. Brian Connolly represented the building owner in the transaction, while Ellen Herman and David Houck of the Staubach Co. repped NPR. Specific financial details of the eight-year lease agreement are unavailable. While space in the new building likely commands rent at the higher end of the spectrum, the average rate for class A office properties in the East End is $43, according to Advantis Real Estate Services Co.'s Third Quarter 2004 Office Report. NPR plans to move into the space this summer.
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