Carr Properties Inks 25K-SF Office Tenant Renewal in NoVA

Washington, D.C.-based Carr Properties has inked a lease renewal at one of its prominent office buildings in nearby Arlington, Va., just a few weeks after divesting itself of an office tower on the District’s East End. 

The Air-Conditioning, Heating and Refrigeration Institute (AHRI) signed a 12-year, 25,063-square-foot lease at 2311 Wilson Boulevard. AHRI occupies the entire fourth floor of the eight-story, 180,000-square-foot building, which Carr developed in 2018. 

Cresa’s Jonathan Harms and Sam Abramson represented AHRI in the deal, while Carr was represented in-house by Kaitlyn Rausse and Ryan Lopez. The building at 2311 Wilson is 98 percent leased, according to the landlord, alongside other tenants such as The Irving Law Firm, coworking and flex space firm Industrious, and software company BuildLab. 

Earlier this month, Carr sold 901 K Street NW, a nearly 220,000-square-foot office property within the District, to Shorenstein for $84 million. The deal was Shorenstein’s first acquisition in D.C. since 2007, and 901 K Street is currently the firm’s only property in the District. 

The deal also comes in the wake of J.P. Morgan Asset Management’s plans to exit its minority ownership of Carr Properties, exchanging its 35.5 percent share for three of Carr’s assets. Fellow Carr investor Alony Hetz plans to invest $100 million in equity into Carr, according to investor materials it published earlier this year, effectively becoming Carr’s majority stakeholder. 

Nick Trombola can be reached at ntrombola@commercialobserver.com.