Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The International Square office complex in the center of the city’s central business district has made room on the tenant roster for a new occupant to come aboard a couple of years down the road. After lengthy negotiations with property owner CarrAmerica Realty Corp., law firm Dickstein Shapiro Morin & Oshinsky LLP has recently committed to 400,000 sf of office space in the three-structure, one million-sf compound. Dickstein Shapiro will ultimately take on most of the space that is currently the home of the International Monetary Fund. The gargantuan amount of space in International Square will allow the law firm to consolidate all local offices under one roof, while leaving room for growth.

Financial terms of the 15-year lease deal are being kept hush-hush–CarrAmerica even declined to comment on the range of rent per-sf in the complex. However, an industry insider tells GlobeSt.com that current asking rents at International Square are about $38.50 per-sf, but on a deal this size, rent is obviously going to be on better terms. The most recent large-scale leases in the complex range from the low- to mid-$30s per-sf. Addresses for the conclave of interconnected buildings–which take up nearly an entire city block in the northwest area–are 1825 Eye St., 1875 Eye St., and 1850 K St. Dickstein Shapiro’s predominant chunk of office space will be in 1825 Eye St.

“The combination of location, economics, and capacity for expansion make International Square the right place for Dickstein Shapiro,” Insignia/ESG executive managing director Timothy Hutchens. Hutchens and colleague Patrick Mahady represented Dickstein Shapiro in the transaction. “This lease is the result of a long, carefully thought out process in which we aided Dickstein Shapiro in analyzing its projected growth, and undertook an exhaustive search of sites and existing buildings throughout the region that would best suit the firm’s needs,” Hutchens adds. The IMF will be moving on to other digs when its lease expires at the end of June in 2005, and Dickstein Shapiro expects to relocate from its current offices at 2101 L St. by the summer of 2006.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.