Organization Takes 50,000 SF at Woodies

Gene Sachs of Cresa Partners represented NED with property owner Douglas Development Corp. The average leasing rate for class A office space in the East End submarket is $48.56 per sf, according to Cushman & Wakefield's Mid-Year 2005 Marketbeat office report.

Home to the Woodward & Lothrop department store from the turn of the century until 1995, the structure more commonly known as the Woodies Building was developed in phases between 1902 and 1926. It underwent a renovation in 2004 that resulted in its current incarnation--356,000 sf of office space and 145,000 sf of retail. NED will join a list of occupants that includes the US Environmental Protection Agency, Pew Charitable Trusts, Recording Industry Association of America and clothing retailer H&M, which occupies 28,000 sf of the retail segment.