Columbia Property Trust is plotting a 105,000-square-foot vertical expansion at 80 M Street, a 286,000-square-foot Class A office building in Washington, D.C., and has already pre-leased about half of the new space, according to the company.
Located in the Capitol Riverfront District, the expansion will become the first property in the area to utilize mass timber in a commercial office setting.
“At Columbia, we continually seek out opportunities to achieve higher rents, occupancy and asset value across our portfolio in forward-thinking ways that support our local communities and the environment,” Nelson Mills, CEO of New York City-based Columbia Property Trust, told Commercial Observer. “The 80 M expansion project is a win-win in that regard.”
Hickok Cole will design the expansion space, consisting of two floors boasting 16-foot ceiling heights and 12-foot-high windows. The expansion will also include a habitable penthouse and 4,000 square feet of outdoor amenity space atop the building.
The American Trucking Associations has already signed on for more than half of the new space, agreeing to a 16-year lease for 60,000-square feet. The ATA will move into two floors in the building starting in the summer of 2022, leaving its current home at 950 N. Glebe Road in Arlington, Va.
“We believe that having a tenant like the ATA in place, with their strong commitment to both the area and this unique space, will continue to foster the sense of community that we’ve created through our repositioning program at 80 M Street and help to drive additional user demand at the building,” Mills said.
JLL’s Doug Mueller, Evan Behr and Kristen Mathis represented Columbia in the lease, while CBRE’s Emanuel Fitzgerald, Susan Thomas, James Dennin and Tom Boyer handled things for the ATA.
The expansion is “supporting the ongoing evolution of D.C.’s Ballpark District into a true mixed-use, seven-days-a-week destination that is attracting new talent and growing companies,” Mills said. “With that migration in full swing, we are excited to have an opportunity to tap into that demand.”