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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.

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