Texas A&M Expanding DC Satellite Campus
By Keith Loria July 11, 2023 1:46 pm
reprints
Texas A&M University is expanding its presence in Washington, D.C.
The university has inked a 70,000-square-foot renewal and expansion of its satellite campus at 1620 L Street NW, according to Newmark (NMRK), which represented the tenant.
DivcoWest owns the 171,000-square-foot building, having acquired it for $97.8 million in 2017.
“D.C. is deep with talent, and the graduate programs Texas A&M offers continue to add to this city’s richness,” Joe McKenna, senior director of investments for DivcoWest, said in a statement.
Texas A&M originally signed a 47,418-square-foot lease in August 2020 in the building, which houses its Bush School of Government and Public Service, a satellite outpost of A&M’s main campus in College Station, Texas. The property is in D.C.’s Golden Triangle Business Improvement District and two blocks from the Farragut North Metro station.
The location has classrooms, conference space, study lounges and huddle rooms, plus an admissions center and a 150-seat theater and lecture hall. On-site amenities at the property include a fitness center with locker rooms, and a 3,000-square-foot tenant lounge with an outdoor terrace.
Recent research by JLL (JLL), which represented the owner in the lease, revealed that satellite campuses of universities based outside the area occupy more than 1 million square feet of space within the District.
“Texas A&M is a leader of many esteemed higher learning institutions here in D.C., as we’ve seen the capital truly become a university town,” Nathan Beach, managing director of JLL, said in a statement. “The expansion of Texas A&M reinforces that it’s the ideal building to support the educational growth of their talent pool due to its central location, premier amenities, an outdoor terrace and ground-level suite.”
Newmark’s Doug Damron and Chris Lucey represented Texas A&M, while JLL’s Doug Mueller, Evan Behr and Thomas Myers joined Beach in representing the landlord.
The rent was not disclosed. JLL’s latest office market report for D.C. listed an average rent of $43 per square foot.
Keith Loria can be reached at Kloria@commercialobserver.com.
