Treasury Division Renews 323,000-SF Lease

WASHINGTON, DC-Signing a lease renewal for a five-year term, the US Office of the Comptroller of the Currency has decided to stay put in its current location at One Independence Square, a 323,000-sf office property near the US Capitol. A division of the US Department of the Treasury, OCC occupies the entire building and has called One Independence home since the class A office property’s completion in 1991.

Wells Real Estate Investment Trust Inc. is the property owner, and relied on the assistance of Wells Real Estate Funds senior vice president George Wells as representation. The Washington, DC office of Spaulding & Slye Colliers also worked with Wells on crafting the lease agreement. According to Spaulding’s website, the asking rate for space in the building–although completely occupied–is $48 to $50 per sf.