Jordan and his business team settled on the spot, which is situated in a location at 13th and Pennsylvania that has visibility and accessibility challenges, after two years of searching. Low rent was a key factor, and it cannot hurt that the structure is second only to the Pentagon in Washington-area building. JumpHigher signed the lease for the space in October with the US General Services Administration, overseers of the Ronald Reagan Building, after Palomino owners terminated its 10-year lease. While the terms of jordan's lease are not available, space in the 3.1 million-sf Reagan Building started out at $42 per-sf when it opened in 1997. Just last year, the US Agency for International Development renewed its lease for five years at $50 per-sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
