NED Signs for Two Floors in Penn Quarter Office Building
The National Endowment for Democracy has signed an 82,000-square-foot lease at 1201 Pennsylvania Avenue, a 450,000-square-foot office building in Washington, D.C.’s Penn Quarter neighborhood.
JLL represented the owner, Sentinel Real Estate Corporation, in the deal.
“It has unique bones in its steel construction which provides better column spacing and ceiling heights,” Doug Mueller, JLL’s executive managing director, told Commercial Observer.
Other highlights of the building are three sides of quality window-lines, no alley views and a 13-story, sun-lit atrium. Amenities include a rooftop deck with views of the Capitol, a conference center and a new fitness facility.
“There are also HVAC upgrades,” Mueller said. “We’ve replaced everything down to the chillers and fresh air intake. We went above and beyond what was required.”
NED is set to occupy both the 10th and 11th floors of the 13-story building, which offer column-free spacing on each floor, and private access to one of the largest rooftop terraces in D.C. Rents were not available.
“After a competitive search across the city, we couldn’t be more thrilled to welcome NED to 1201 Pennsylvania,” stated Martin Cawley, Sentinel Real Estate Corporation’s managing director, said in a prepared release. “We recently completed significant investments in the building and we know as the foundation continues to grow, even amid a downturn, they will be able to do so right here at 1201 Penn.”
NED is scheduled to move into its new space next April.
Joining JLL’s Mueller in representing ownership on the deal were Evan Behr and Mac Hall. Savills’ Ben Plaisted and Greg Scheipers represented NED.