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WASHINGTON, DC-A new tenant, the Recording Industry Association of America, has joined the roster of businesses at the Woodies Building at 1025 F St. NW having signed a lease for 25,000 sf of class A office space. The historic 498,000-sf office and retail facility is the former home of the District’s Woodward & Lothrop department store, or Woodies, which vacated the property in 1995 after having occupied it since 1902. A $100-million redevelopment of the facility was completed in 2004.

Acting on behalf of RIAA, Sherry Cushman and Sally Wilson of CB Richard Ellis negotiated the 15-year lease of space within the 356,000-sf office segment with property owner Douglas Development. Financial specifics of the transaction have not been disclosed; however, the average rate for class A office space in the city’s central business district is $41.10 per sf, according to Cushman & Wakefield’s Marketbeat Snapshot for the first quarter of 2005.

Located on nearly an entire city block, the 10-story structure is home to such tenants as the Environmental Protection Agency, which occupies a whole floor. RIAA will relocate from its current site at 1330 Connecticut Ave. NW early next year. “This building offered RIAA everything it was looking for–a central location in the heart of DC’s CBD near Capitol Hill, as well as easy access to Metro,” CBRE’s Cushman notes. “The space also easily lends itself to building out a recording studio that will allow the association to demonstrate its members’ products to a variety of audiences.” RIAA’s lease on its existing 27,750-sf space is scheduled to expire at the end of 2006.

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