Public Policy Think Tank AEI Expands in DC With Satellite Office
American Enterprise Institute, a public policy think tank, has outgrown its Washington, D.C., headquarters and is opening a satellite office.
The group, which owns and occupies its headquarters at 1789 Massachusetts Avenue NW, has inked a 27,581-square-foot lease at 11 Dupont Circle NW in Washington, D.C., just two blocks away.
AEI acquired its headquarters building for $36.5 million a decade ago and completed an $80 million renovation and restructuring in 2016, which saw the property expand from 72,000 square feet to approximately 100,000 square feet.
RMR Group owns the 153,228-square-foot office building at 11 Dupont Circle and recently renovated the six-story property by adding a tenant lounge, a fitness center, a conference center, a bike storage room and a courtyard for tenants.
Newmark (NMRK) facilitated the lease on behalf of the owner
“AEI was immediately attracted to the brand-new, state-of-the-art amenities, which are among the best in the submarket,” Brendan Owen, Newmark’s asset services group chairman, said in a prepared statement. “Further, the asset being owned debt-free and offering convenient access to AEI’s headquarters at Dupont Circle made the building a more attractive option for AEI’s expansion needs.”
AEI describes itself as being dedicated to defending human dignity, expanding human potential and building a freer and safer world.
Joining Owen on the deal were Newmark’s Ed Clark and Max Planning, while Mark Wooters and Aaron Pomerantz from Cushman & Wakefield (CWK) represented the tenant.
Keith Loria can be reached at Kloria@commercialobserver.com.