This lease, plus a pending commitment, will bring the building's occupancy rate to 25%, Frankel tells GlobeSt.com. Asking rates for the building are low to mid-30s, triple net, he adds. Triple net asking rates are a growing trend among DC office buildings, which began three years ago and have accelerated since the downturn last year.
AAR will be moving from 50 F St. this September. This is not an expansion for the association, Frankel says. The decision to move was partly because of the closer proximity to Capitol Hill, he says, and partly "because it recognized a better value in this building."
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