International Education Nonprofit Renews 41K-SF Lease in Downtown DC
By Christina sturdivant-Sani November 9, 2018 1:13 pm
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American Councils for International Education has renewed its 41,000-square-foot lease at 1828 L Street NW in Downtown Washington, D.C., according to a press release from West, Lane & Schlager Realty Advisors (WLS), which represented the nonprofit in the deal.
American Councils, which provides cultural exchange, language training and professional development programs around the world, has been headquartered on the top two floors of the building for nearly a decade, per the release. Asking rents at the 12-story property are in the mid-$50s per square foot, a WLS spokeswoman said.
WLS’ Matt Levin and Gary Schlager worked on behalf of American Councils in the deal. Levin told Commercial Observer that the decision for the lease renewal was based on the council’s “needs, preferred location and vision for growth.” The 13-year lease provides flexibility for the organization to expand its footprint in the future, per the release.
Tom Hilley and Pete Prominski of Transwestern represented the landlord, Tower Companies, in the deal. The brokers did not respond to Commercial Observer’s request for comment.
The building spans 260,000 square feet of office space. It is anchored by ground-level retailers Fitness First and Corner Bakery Cafe.
