WASHINGTON, DC-Preferred Office Club, a company that provides fully operational cutting-edge offices with administrative and technical support, has leased 25,600 sf of space at 888 16th St. to house its newest location. Saddled between Farragut Square and McPherson Square, just north of the White House, 888 16th St. is a 138,000-sf building that is owned and partially occupied by the Motion Picture Association of America.

The 35-year-old property underwent a sweeping upgrade 10 years ago and is currently 95% occupied. The 16th St. site is expected to open this December and will mark Preferred Office’s fifth location in the District.

Specific terms of the new tenant’s lease agreement have not been disclosed. Grubb & Ellis Co., which represented the property owner in the transaction, markets office space at $42 to $44 per sf. Carr Real Estate represented Preferred Office in the deal.

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