AARP's new digs will allow the organization direct access to its headquarters location at 601 E St. NW via connections between floors two through five of both buildings. AARP is the only tenant to own office space at Terrell Place; the other occupants are under lease agreements. Real estate services firm Studley's Arthur G. Greenberg and Thomas M. Fulcher Jr. represented AARP in the deal, while CarrAmerica represented the property owner, which is a joint venture involving CarrAmerica and a JPMorgan Fleming Asset Management client.

"The decision to sell these floors to AARP was based on the unique circumstances created by the adjacency of the space to AARP's existing building," says John Donovan, CarrAmerica senior managing director for Metropolitan Washington, DC. "There are no current plans to sell additional floors at Terrell Place."

With AARP's acquisition, Terrell Place is 81% committed. Other office residents at Terrell Place include law firm Venable LLP, which is the lead tenant with 263,000 sf, and real estate firm the Staubach Co., which just committed to 13,000 sf.