Compass Heading to New DC Home
By Keith Loria May 5, 2022 6:06 pmreprints
Compass, a residential real estate brokerage, has found a new Washington, D.C. home in Thomas Circle.
The company signed a 12,000-square-foot lease at 1401 Massachusetts Avenue, a 52,000-square-foot building being redeveloped by Akelius. The location adds to the 17 Compass offices in the D.C. region, including one at nearby 1313 14th Street.
Compass will take the entire fourth floor of the five-story building, bringing 500 brokers from nearby offices.
Akelius originally acquired the property from Rock Creek in May 2019. Once completed, the building will feature 14-foot ceiling heights, a rooftop conference space and deck, an outdoor courtyard and windows on three sides of every floor. It will also house a 4,000-square-foot fitness center.
JLL represented the owner in the deal.
“Tenants in the market today are demanding better quality buildings that offer amenity rich spaces to accommodate new hybrid models in locations that help them recruit and retain talent,” Doug Mueller, executive managing director of JLL, said in a prepared statement.
The building is set to obtain a LEED Platinum rating, with sustainability features that include an indoor water use design that is more than 31 percent better than the baseline, enhanced indoor air quality, and outdoor air units equipped with MERV 13 filters.
“Alongside the value in location, the quality of the wellness and amenity offerings at the building was absolutely something that stood apart,” Marc Pina, managing director of sales at Compass, said in a prepared statement. “We look forward to having the ability to entertain on the 5th floor outdoor terrace overlooking Thomas Circle.”
JLL’s Mac Hall joined Mueller in representing the owner, while Savills’ Josh Meltzer, Wendy Feldman Block and Bie Chu Lee represented the tenant.
Requests for comment from Akelius and Compass were not immediately returned.
Keith Loria can be reached at Kloria@commercialobserver.com.