Big 400,000-SF Lease Deal in Place at DC's International Square

WASHINGTON, DC-The International Square office complex in the center of the city’s central business district has made room on the tenant roster for a new occupant to come aboard a couple of years down the road. After lengthy negotiations with property owner CarrAmerica Realty Corp., law firm Dickstein Shapiro Morin & Oshinsky LLP has recently committed to 400,000 sf of office space in the three-structure, one million-sf compound. Dickstein Shapiro will ultimately take on most of the space that is currently the home of the International Monetary Fund. The gargantuan amount of space in International Square will allow the law firm to consolidate all local offices under one roof, while leaving room for growth.

Financial terms of the 15-year lease deal are being kept hush-hush–CarrAmerica even declined to comment on the range of rent per-sf in the complex. However, an industry insider tells GlobeSt.com that current asking rents at International Square are about $38.50 per-sf, but on a deal this size, rent is obviously going to be on better terms. The most recent large-scale leases in the complex range from the low- to mid-$30s per-sf. Addresses for the conclave of interconnected buildings–which take up nearly an entire city block in the northwest area–are 1825 Eye St., 1875 Eye St., and 1850 K St. Dickstein Shapiro’s predominant chunk of office space will be in 1825 Eye St.