John Doub and Andy O'Brien of Jones Lang LaSalle represented the building's owners, the American College of Surgeons. Ed Flenner of the Meyer Group represented the National Farmers Union.
ACS' plan is to occupy part of the building and lease the rest. After securing a $107.6 million construction loan last year, it broke ground. At that time it had letters of intent on some 15,000 square feet, leaving about 115,000 square feet of rentable space. Building delivery is scheduled for Q1 2010.
Leasing activity in the District has slowed dramatically in the past year for obvious reasons, with newly delivered buildings that went under construction during this period feeling the crunch. The Mortgage Bankers Association recently retained HFF to sell its owner occupied property at 1331 L St., two years after it acquired it. It was burdened with $75 million in financing, and had been unable to sign on enough tenants for the portion of the building that MBA was not using.
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