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WASHINGTON, DC-A smooth transition is in the works at the 290,000-sf building at 2445 M St. As law firm Wilmer, Cutler & Pickering makes its piecemeal exit from the premises, the Advisory Board Co. has stepped in to occupy some of that space by committing to nearly 145,000 sf under a 15-year lease. The Advisory Board Co., a healthcare industry research provider, is relocating from its current digs at the Watergate office building on New Hampshire Avenue. The carefully orchestrated game of entry and exit maneuvers will leave the office structure fully occupied for the next two years.

“Wilmer Cutler was the primary tenant in the building, and they have phased out of part of their space to go to their new offices on Pennsylvania Avenue,” Richard C. Tonner of Cassidy & Pinkard, the firm that represented property owner Beacon Capital Partners in the transaction, explains to GlobeSt.com. “The space that they’ve already vacated is the space we’re leasing to Advisory Board.” Spaulding & Slye Colliers represented the tenant in the deal.

A class A property in the District’s West End submarket, 2445 M St. was completed in 1986, at which time Wilmer Cutler became the nine-story tower’s first and largest tenant under a 15-year extendable lease. The structure, which sits halfway between Georgetown and Dupont Circle, boasts a handful of the city’s leading hotels as its neighbors. Terms of Advisory Board’s lease agreement have not been disclosed. However, space in the building is being marketed at $35 per sf for occupancy in the spring of 2006, when Wilmer Cutler completes its exodus. The Advisory Board will make the move to its new home in the spring of next year.

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