Leasing Team in Place for 500 New Jersey Ave.

WASHINGTON, DC-It is not scheduled for completion until next summer but the premier 93,000-sf office property at 500 New Jersey Ave., has gotten a management and leasing team in place. Project developer the National Association of Realtors7 has chosen real estate services firm Cassidy & Pinkard to handle the activity for the $45 million development. With NAR committed to taking five of the structure’s 12 floors to house its national headquarters, Cassidy & Pinkard has 52,000 sf left to lease. Space is being marketed for $37 to $40 per sf.

Located on a parcel that was formerly home to a service station, 500 New Jersey Ave. is being billed by Cassidy & Pinkard senior vice president David Bevirt as a “trophy property, which offers distinctive architecture, Capitol views and abundant amenities.” In addition to the class A office space, the building also features three levels of underground parking space.