X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The Delegation of the European Commission–the European Union’s equivalent of an Embassy–is moving from its long-standing address of 2300 M St. to 2175 K St. The Delegation has inked a 15-year lease for 50,724 square feet at the 140,000-square-foot office building, which is owned by a JV between Minshall Stewart Properties and JP Morgan.

Rich Lane, Eric West and Paul Hanafin of West, Lane & Schlager represented the tenant in the transaction. CBRE’s Kevin Howard led a team that represented the building owner. The Delegation, which has called 2300 M St. home for close to 15 years, will use most of 2175 K St.’s first floor for receptions, press conferences and other public events. Four floors will be used for general office space and to house the office of the Ambassador to the European Union.

One of the main reasons why the Delegation opted to move was that it wanted more flexibility in building out its internal space, Lane tells GlobeSt.com. “They were looking for a situation where they could build a building within a building.” There were other factors as well, including location, security–as well as cost. Lane declines to discuss details about the tenant’s package other than to say the economics of the deal was an important part of the decision.

WLS was retained by the Delegation in February 2008 for both lease and purchase opportunities. 2175 K St. is undergoing an extensive interior and exterior renovation right now, including the addition of three office floors that will extend the height of the building to 11 stories.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.