Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-A downtown office building owned by the Tower Cos. signed on two non-profit tenants this month. One, American Councils, has signed a ten-year, 38,000 square foot lease, occupying the top two floors. PFLAG, Parents and Friends of Lesbian and Gays, is taking 4,500 square feet.

Both deals were signed the same day, Matt Levin at West, Lane & Schlager tells GlobeSt.com. Levin repped the tenants in the deals, along with colleague Gary Schlager. In the American Council transaction Transwestern agents Peter Prominski and Thomas Hilley Jr. represented the landlord, along with Tower’s Chuck Wallach and Eric Posner.

American Councils, which evaluated several dozen properties in Maryland, Virginia and the District, plans to vacate its current space at 1776 Massachusetts Ave., NW, in Q2 of 2010. The two leases bring the building to close to full occupancy; asking rates for the remaining space are in the mid-$40s per square foot. Despite the desirable core location, supply is flooding this submarket; 1.4 million square feet in general is expected to deliver to the District by year-end, according to CBRE’s Q3 report.

Tower Cos. is planning renovations to the lobby and entry-way as well as the construction of a tenant-only gym. It’s also pursuing a LEED-EB rating.

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?


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.