Think Tank Atlantic Council Moving to Meridian’s Aleck in DC
The Atlantic Council, which bills itself as a nonpartisan think tank, has inked a 79,671-square-foot lease at The Aleck, a 175,500-square-foot building in Washington, D.C.’s Franklin Square neighborhood.
Located at 1400 L Street NW, the building is owned by Bethesda, Md.-based The Meridian Group, which recently completed a $20 million renovation designed by Hickok Cole Architects.
Meridian acquired the 12-story property from Mack-Cali Realty in 2016 for $70 million. The Aleck is named for Alexander Graham Bell, who had one of his first laboratories located just a block away.
The rent was not disclosed, but similar spaces in the building command $55 to $60 a square foot.
The Atlantic Council is moving from 1030 15th Street NW, where it currently occupies 41,941 square feet.
“The organization was looking for a creative home to host large-scale meetings and events, and we were able to achieve their needs seamlessly at our building,” Katie Yanushonis, senior vice president and head of leasing at The Meridian Group, said in a statement. “The company’s upgraded experience and thoughtful design will allow them to continue their mission of providing the best programming and services for its employees, guests and members.”
“The Aleck has successfully attracted multiple top-tier companies because of TMG’s efforts to deliver a market-leading reposition that evokes an emotional response through its experience and branding throughout,” Mark Klug, CBRE’s executive vice president, said in a statement. “A handful of buildings are really starting to separate themselves from the pack, and this transaction reflects that bifurcation in the market for an increased demand for higher-end, renovated space.”
Klug, along with CBRE colleagues Carroll Cavanagh, Scott Frankel, Emily Eppolito and Dimitri Hajimihalis represented the owner in the lease, while Kurt Richter, Ned Goodwin and Reed Miller of Cushman & Wakefield represented The Atlantic Council.
Keith Loria can be reached at Kloria@commercialobserver.com.