The association's 15-year lease of the sixth floor brings the 350,900-sf building to 100% occupancy. Craig Lussi, Michael Hammond and Stephen Burman with Studley represented the Academy and negotiated for its control of the space for the next 25 years, three different expansion options throughout the term of the lease and the assumption of the remaining term on the existing lease, according to a statement made by Howard Messner, president and CEO of the academy.
The academy will occupy the building in April 2007. The move is part of a consolidation of space the non-profit is currently leasing in two buildings in the East End: 1100 New York Ave., N.W. and 1100 H St., N.W.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
