X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The anchor tenant position at 2100 M St. NW will remain the same. Nonpartisan political think tank the Urban Institute has extended its lease of approximately 130,000 sf in the nearly 300,000-sf office building.

GVA Advantis’ Bill Morris and Bruce McNair represented the tenant with property owner Prudential Real Estate Investors/TMW. The Urban Institute–which maintains its headquarters at the property–renewed its lease in 2001, extending it for 13 years.

Located on a one-acre corner parcel in the city’s central business district, 2100 M St. features 291,300 sf of class A office space, 6,800 sf of storage offerings and an underground parking facility to accommodate 225 vehicles. The eight-story structure was originally developed in 1969 by real estate firm Charles E. Smith Cos. and has since undergone a series of renovations, the last of which took place in 1995.

The Urban Institute shares the tenant roster with others including law firm Stewart & Stewart and George Washington University, which makes its home in 42,500 sf of space located predominantly on the third floor of the structure. The vacancy rate in the central business district, according to real estate services firm Cushman & Wakefield’s Third Quarter 2005 statistics report, is 5% and large spaces are hard to come by these days. Financial terms of the lease agreement have not been disclosed; however the average leasing rate for class A space in the submarket is $44.70 per sf.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.