New Leasing Team in Place for 185,000-SF Downtown Building

WASHINGTON, DC-The 185,000-sf office property known as the 601 Pennsylvania North Building has a new leasing team in place now that owner Lawrence Ruben Co. has tapped CB Richard Ellis for the job. CBRE will tackle the task of leasing up 85,000 sf of space that will become available in May of 2006.The real estate services firm tells GlobeSt.com that it is taking over the duties from the owner, which had previously been solely responsible for leasing. As per CBRE’s Office MarketView report for the first quarter of 2004, the average asking rate for office space in the East End is $38.99 per-sf.”The location of this property in the heart of the monumental core of Washington combined with the absolute trophy quality of the building, views, property management, and access to top flight shopping, restaurant, hotel and other amenities offer an extraordinary place for businesses looking for a first class address,” CBRE first vice president Mark Mallus says. The tenant roster in this 14-year-old class A building, which also features a ground-level retail space, includes law firm Alston & Bird, Ashland Oil, Canadian National Railway, Cisco Systems, Merck & Co., and offices of the national Gallery of Art.