Law Firm Fried Frank Renews 103K-SF Anchor Lease in Downtown DC Office
Fried Frank, an international law firm, will remain the anchor tenant in one of Washington, D.C.’s premier office buildings, after committing to a long-term lease.
The firm has renewed its 103,000-square-foot space on floors five through eight in Lafayette Tower, a 324,500-square-foot building at 801 17th Street NW, inking a 10-year extension through 2037.
An affiliate of Morgan Stanley Real Estate Advisor owns the 11-story building, which was delivered in 2010 and is currently in the midst of a renovation. Fried Frank has been in the building since it opened.
“The building is well designed, well located and well run,” Jon Mechanic, chairman of Fried Frank’s real estate department, told Commercial Observer. “All of our people are very happy there.”
Stream Realty represented the owner in the lease.
“Fried Frank saw value in remaining in the building long term as we continue to improve the amenity base and service offerings,” Andy Eichberg, managing director of Stream Realty, said. “In addition, we were able to structure the lease so the firm could reinvest in its space to create a more employee-centric environment.”
Lafayette Tower is currently 90 percent leased, with several speculative suites available ranging from 3,900 square feet to 8,000 square feet.
Joining Eichberg on the deal was Stream Realty’s Kyle Luby and Matt Pacinelli. CBRE (CBRE)’s Craig Reicher, Chau Leung, Mark Minich Jr., Tim Dempsey, Ramneek Rikhy and Stephen Siegel represented the tenant.
Keith Loria can be reached at Kloria@commercialobserver.com.