"We are very excited about this deal," she tells GlobeSt.com. "The EEOC is a high profile federal tenant and its sends a strong message about the viability of NoMA. It will encourage other tenants to consider us for space."
The EEOC will be using One NoMA Station as its headquarters once Bristol has completed EEOC's requested design changes and renovations. It expects to move from its current location at 1801 L St. sometime next year, Joe DeLogu of Jones Lang LaSalle's Government Investor Services team tells GlobeSt.com.
Delogu and David Alperstein represented Bristol Group. GSA was represented by Bill Craig and Alexis Wise of Jones Lang LaSalle's Public Institutions Group.
With this lease, the building will be almost fully occupied, DeLogu adds, which will greatly assist the firm when it puts the property and surrounding area on the market in the near future, as GlobeSt.com previously reported. Asking rents in the building are in the low- to mid-$40s per sf, he says. The largest occupant in the building, EEOC's space will support between 500 to 700 employees. The US Bureau of Alcohol, Tobacco and Firearms occupies about 60,000 sf in the building, but it will be moving out this fall when its own nearby building is complete.
The 412,000-sf One NoMA Station building was NoMA's first new office building in five years when it delivered in 2005.
BGI completed a full base building renovation on the old Woodward and Lothrop warehouse, which was originally constructed in 1939. Now a class A office building, it still maintains the original façade landmark water tower. One NoMA Station has additional acreage that can support in excess of 1.7 million sf of additional development.
Price says the lease is also emblematic of the NoMA's surprising momentum. "There are seven mixed use projects going forward in next eight months, which will deliver five class office buildings, three hotels and four residential projects." She says a lot of the projects have stepped up development schedules. "That, combined with ATF moving into its new headquarters this fall, will mean the neighborhood will be looking completely different within a year."
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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.
