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WASHINGTON, DC-The ownership teams of two separate buildings–80 M. St. and 1800 K St.–have decided to put their faith in Jones Lang LaSalle to handle leasing activities at their class A office properties.

Wells Real Estate Funds, owner of the 275,400-sf structure at 80 M St., decided to hand over both leasing and management responsibilities to Jones, after having relied on Spaulding & Slye Colliers and Cottonwood Management, respectively. And 1800 K St. owner Paramount Group Inc., which will continue to handle its own management duties, is now relying on JLL to oversee leasing at its 205,000-sf building, leaving behind former leasing agent Transwestern.

Navy Yard Metro Center, as 80 M St. is known, sits in the Capitol Hill area of the city and is home to the likes of BAE Systems, BearingPoint, CACI and Northrop Grumman. Developed in 2001, the seven-story property sits across from a Metro station and features an on-site fitness center. Space in the brick, metal and glass building is being marketed for $44 to $46 per sf.

In the city’s central business district sits 1800 K St., boasting a location just a stone’s throw from the White House. The 11-story tower was developed in 1970, and today it plays host to tenants ranging from the Asia Society to think tank the Center for Strategic and International Studies to a host of law firms. Space is being marketed for $40 to $42 per sf.

JLL leasing director Holly Davis says, “With our strong expertise in the DC market, we are confident that we will be able to effectively lease both properties, as well as to efficiently manage 80 M St.” Davis and colleague Robert Schwartz will spearhead leasing at 80 M St., while Mike McQueen will handle management; Mike Ellis will be in charge of leasing up 1800 K. Most likely, expertise, as well as a red hot market, will both assist in attracting and retaining tenancy at the properties. According to Advantis Real Estate Services Co.’s Third Quarter 2004 Market Report, the vacancy rate is only 3.4% in the Capitol Hill submarket and 5.1% in the central business district.

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