Bates White's director of corporate services Adrienne Gardner indicates that "rapid growth" is the motivation behind the move. Kevin Howard of Grubb & Ellis Co. represented the tenant, while Jones Lang LaSalle represented property owner TIAA-CREF. Further details of the transaction have not been disclosed. JLL currently markets space in the building for $37.50 triple net.
Franklin Square was developed 16 years ago about five blocks from the White House. The 12-story structure, designed by celebrated architects Philip Johnson and John Burgee, features a three-story parking facility, as well as about 28,400 gross sf of ground-level retail containing such offerings as a fitness center, restaurant and coffee bar. Other tenants include law firm Finnegan, Henderson, Farabow, Garrett & Dunner and Paine Webber Inc.
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