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New Owner Looks to Spruce Up Watergate

WASHINGTON, DC-CB Richard Ellis has been retained to lease the retail and office components of the 261,000-sf tower.

By Erika Morphy | Updated on October 23, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

WASHINGTON, DC-The Watergate, one of Washington’s most notorious buildings, is undergoing a facelift under its new owner, Los Angeles-based BentleyForbes. BentleyForbes retained CB Richard Ellis to handle retail and office leasing at the 261,084-sf mixed-use tower. John Filipos, a broker in the company’s Retail Brokerage Services here, tells GlobeSt.com he is unsure what the estimated renovations will ultimately cost. “It is very much a work in progress.” New amenities will include signage and lightning upgrades, he says.

BentleyForbes purchased the Watergate in October 2005 from Trizec Properties. It says in a statement it plans a major renovation of the retail and office common areas.

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