CXP Extends Consultancy’s Lease in DC
By Keith Loria August 5, 2020 11:19 am
reprints
Berkeley Research Group has extended its lease at 1800 M Street NW, a 581,000-square-foot mixed-use building in Washington, D.C.’s Golden Triangle neighborhood owned by Columbia Property Trust.
“We extended this global consulting firm’s 57,000-square-foot lease by an additional five years until 2030, and we also expanded their space by an additional 11,000 square feet,” Nelson Mills, Columbia Property Trust’s CEO, said on the company’s Q2 earnings call this week. “This gives Berkeley a total of 68,000 square feet at this fully modernized Class A property.”
Originally built in 1975, the property underwent a $33 million renovation and repositioning a few years ago, and includes dual lobbies, a roof deck, an interior courtyard and a best-in-class fitness center.
In fact, Mark Wooters, Cushman & Wakefield (CWK)’s managing director for its Mid-Atlantic region, told Commercial Observer that 1800 M Street was one of the first office buildings in D.C. that went above and beyond in terms of the quality of the gym. The property’s gym is one of the largest in the city with features that include a yoga studio, a classroom studio and spa-quality locker rooms.
In 2017, Columbia Property Trust purchased the LEED Gold building in a joint venture with Allianz Real Estate in a $41 million deal.
Situated at the prominent corner of 18th and M streets, the building is close to the Farragut North Metro Station and the area’s abundance of shops, hotels, restaurants and other amenities.
The building is currently 97.4 percent leased. Another notable tenant is Cresa, which signed a 14,500-square-foot lease last year.
