Washington, DC

The company is currently completing renovations its office property located at 1919 Pennsylvania Ave., for which it has secured two new leases.

The company has agreed to acquire a 79% interest and an additional 11% economic interest in the mixed-use asset, for a total value of $246 million.

Tenants have more power, so smart negotiation is critical for property managers.

"While a crisis indeed, COVID was an accelerant for the trends and shifts in our industry that were already afoot. While we cannot always anticipate change, we must work to build a business that can handle change and use it to our advantage," says Scott Meyer, CFO of PTM Partners.

Colliers' DEI program raises awareness, boosts fairness and expands opportunity while leveraging 'stronger together' for corporate benefit.

While many companies ponder a return to the office and plan hybrid work models, office market experts are keeping an eye on net absorption and sublease space.