WASHINGTON, DC-The University of the District of Columbia has signed a 41,922-sf lease at 410-412 Eighth Street, NW. The building, owned by United Investors Management Co., is located in the heart of Penn Quarter, in the Capital Hill submarket.

Most of the leasing activity here has been renewals, with a handful of new leases inked to occupy around 20,000-sf to 25,000-sf of space, says Tonya Ginter, director of research and marketing for GVA Advantis. “Leases for 42,000 sf are more the exception than the rule,” she tells GlobeSt.com. Asking rental rates for buildings here are around $45 per sf, according to Ginter.

Located between D and E Streets., 410-412 Eighth St. was recently vacated by the DC government. The building was formerly home to the DC Arts & Entertainment Commission. UDC plans to use the building for classroom space and some administrative offices.

Brian Daly and Kimberley Quirante of Cassidy & Pinkard Colliers represented the owner in the transaction. Brett Diamond and Josh Peyton of Grubb & Ellis represented UDC.

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