Tenants Renew 95,436 SF at Air Rights Center

BETHESDA, MD-Mutual fund company the Calvert Group and its parent, Acacia Life Insurance Co., have renewed the 95,436-square-foot space they occupy in the Air Rights Center here, a three-building complex in Downtown owned by TIAA-CREF. The companies occupy space at 7315 Wisconsin Ave. and 4550 Montgomery Ave. CBRE’s Roberta Liss, Art Santry, Sally Wilson, Ernie Jarvis and Dennis Owen represented the tenants. TIAA-CREF was represented by Bernie McCarthy and Amanda Davis at Jones Lang LaSalle.

The companies have been tenants in the building for more than 14 years. The decision to renew was based in part on several sustainable enhancements TIAA-CREF is making to the building, Liss tells GlobeSt.com, such as switching to green cleaning methods, establishing a dedicated area for recycling, and installing high efficiency light bulbs and photocells or motion sensors in the building’s hallways and offices. Since Calvert’s brand is based on responsible investments, these green fixes were important to it, she says.

Liss declined to discuss financial details of the renewal and any other concessions made. The companies had been engaged in a two-year search for a new location, according to CBRE. TIAA-CREF acquired the building in a $147-million deal in 2002.