Columbia Achieves Full Occupancy at DC Flexible Office Space
By Keith Loria August 21, 2019 9:14 am
reprints
Columbia Property Trust has reached full occupancy at The Link, a 21,000-square-foot flexible office and amenity program located within 1800 M Street in Washington, D.C., just six months after opening the space, Commercial Observer has learned.
The Link, which opened on the fifth floor of the 565,000-square-foot property in February, offers suites ranging from 1,400 to 6,500 square feet.
“By cultivating a community of innovative tech companies and nonprofit firms at 1800 M Street, we have changed the fabric of the asset and successfully repositioned it in the marketplace,” Mark Witschorik, Columbia’s vice president of the eastern region, told CO.
The tenants include Virgin Orbit, which provides launch services for small satellites, with 1,963 square feet; Fugue, a cloud security company, with 3,997 square feet; financial advisory firm District Capital Partners, with 6,482 square feet; financial compliance company CT Strategies, with 2,620 square feet; and a cryptocurrency company, with 3,926 square feet.
“The type of high-growth tenants that we have at The Link tend to seek turnkey space that they can move into immediately,” Witschorik said. “By designing the program with this in mind, we were able to not only lease up, but also fill every suite with a new tenant within 120 days of the delivery of the space.”
Cushman & Wakefield (CWK)’s Mark Wooters and James Collins, both managing directors, represented Columbia Property Trust in the leases.
According to a statement, nearly 5,000 square feet of The Link correlates to an amenity center with a 20-seat boardroom, telephone booths and lounge seating. There’s also a pantry-style kitchen that can function as an event space holding up to 150 guests.
Columbia teamed with D.C.-based architectural firm Wingate Hughes to conceive and construct The Link, a pairing that was successful with a similar venture at Market Square on Pennsylvania Avenue. Columbia manages the day-to-day operations in-house.
“The attention to detail that went into designing the space, including high-quality finishes, curated artwork and stylish furnishings, really distinguish The Link from other flexible office programs in the market,” Witschorik said. “We also tailored The Link’s amenity space from a design and functional standpoint to give tenants that are occupying 1,400 to 6,500 square feet access to common areas that are traditionally only available to much larger tenants.”
Tenants can utilize 1800 M Street’s amenities, such as a roof deck, building courtyard and fitness center.
Columbia originally acquired 1800 M Street in 2017 through a joint venture with Allianz. The property was built in 1975 and renovated in 2016. Notable tenants include global consulting firm Berkley Research Group and litigation boutique firm Zuckerman Spaeder.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
