Penske Corporation, a free-floating car sharing service, has signed a three-year lease for 9,000 square feet of office and maintenance space at 3330 New York Avenue NE in Washington, D.C., with landlord Douglas Development, Commercial Observer has learned.
The company will use the space to launch Penske Dash throughout D.C. and Arlington, Va., a service that allows members to access quality vehicles on an as-needed basis for short periods of time.
Ken Biberaj, Savills’ managing director, represented Penske in the deal. CBRE’s Ralph Haught, first vice president, represented the landlord.
“This location is ideal for this new venture, supporting Penske’s office and industrial needs and launching the company into D.C.’s innovative business market,” Biberaj told CO. “It was a pleasure to work with Douglas Development on this transaction for Penske Dash as it enters the D.C. area.”
Penske will use the office space to house those working behind the scenes at Penske Dash, and will utilize the industrial space for the car sharing service’s vehicles and equipment.
The property offers convenient access to the D.C. and Arlington markets, and this deal allows Penske Dash to enter both markets for the first time.
“It was very exciting to assist a household name such as Penske in the expansion of an innovative business line to the local market,” Biberaj said. “The company selecting this area to pilot Penske Dash is a testament to the region as a magnet for innovation and business growth.”