"With this lease restructure Sonnenschein has firmly secured a long-term leasehold at a signature Washington address with room to accommodate its growing Washington presence," says Tom Doughty of Spaulding & Slye Colliers, who represented Sonnenschein in the deal with colleague Greg McCavera; Richard Nelson stood in for property owner Hines Interests.

Sonnenschein began its occupancy in the building with 28,000 sf, relying even then on Spaulding & Slye's assistance. The firm increased its take of space to 80,000 sf in 2001. Financial terms of Sonnenschein's lease restructure are not being disclosed; however, class A office space in the city's central business district goes for an average of $38 per-sf, according to Advantis Real Estate Service Co.'s Mid-Year 2004 Office Report.

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 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.