CBRE Plans to Move DC Office to JBG Smith Building in Dupont Circle
CBRE is relocating its Washington, D.C., office to a 55,000-square-foot space at 1900 N Street NW in Dupont Circle, according to press release from the brokerage. The 11-story building is currently under construction and CBRE plans to move in in early 2020.
The deal was signed on Dec. 12, according to a CBRE spokeswoman, who would not disclose the length of the lease. Asking rents at the development are $50 to $60 per square foot, she said.
CBRE’s D.C. office, which employs about 230 people, currently takes up 65,000 square feet of space at 750 9th Street NW, according to the spokeswoman. The move is part of CBRE’s global Workplace360 initiative that “promotes flexible and mobile working with enhanced technology and features a balance of workplace settings, including both collaborative and private spaces that employees can self-select to accommodate their hour-by-hour needs,” per the release.
“We selected this new JBG Smith building because of its high ceilings, virtually column-free configuration, forward-thinking design and light-filled floorplate—all important elements that support our mission to elevate our employee and client experience and further our lead in the Washington real estate market,” Kyle Schoppmann, an executive managing director at CBRE, said in a prepared statement. At the new office, employees will also be able to find and connect with colleagues, have coffee ready for them and book a conference from using CBRE’s technology, according to the release.
David Ritchey, an executive vice president at JBG Smith, said that the developer is “pleased” to partner on the deal, which validates the building’s location near the Dupont Circle Metro station and “best-in-class design, specifically addressing the needs of forward looking, industry leading professional services organizations.”
Ritchey, along with JBG Smith’s Scott Franklin and Andrea Murray, led the transaction for the firm, while CBRE’s Lou Christopher, Jordan Brainard and Brian Murphy represented their company in the deal.