When all is said and done--which will be one year from now when the newly spoken for space becomes available--Davis & Harman will have its name on a total of approximately 32,800 sf encompassing the top two floors of the 12-story structure. The lease, negotiated on behalf of the tenant by Jeffrey Shrago and Paul Graham of Studley, is for a 10-year term. CarrAmerica's Phillip Thomas represented the property owner.

"With a market rental rate and a tenant improvement allowance to cover the twelfth floor renovation, this renewal and expansion made economic sense for Davis & Harman while keeping the firm in the heart of Downtown Washington," Shrago explains. But for time being, the firm needs only part of the extra space it has laid claim to, and will market unused square footage on the eleventh floor for sublease.

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.