WASHINGTON, DC-CB Richard Ellis has inked a long-term lease for 60,000 sf on two floors in an East End property called the Victor Building, located on 750 9th St., NW. The real estate firm will be moving into its new diggs, owned by Brookfield Properties, once its build out of the space is complete, sometime in December.
As part of its previously announced commitment to becoming carbon neutral by 2010, CBRE is designing its new space to meet Gold LEED certification for commercial interiors. Until then it will remain in its current space at 555 11th St, NW.
John Germano, senior managing director of CBRE for the Washington/Baltimore Region, tells GlobeSt.com that the company evaluated a mix of factors in deciding where to relocate. It did consider some of the many green office buildings under development in the DC area, he says.
"Some of these buildings, though, are very high rent. And when we added everything together--the geographical boundaries we wanted to stay within, proximity to metro, the relationship with the landlord--we decided this was the best option for us.
Brookfield Properties was very open to the necessary fit out, he continues. "Some of the landlords we met with were not even sure what LEED certification for commercial interiors was," Germano says.
New features in the building that will make the space environmentally sustainable include the use of daylight harvesting and energy efficient light fixtures and equipment, submetered electricity and the ability to purchase green power from renewable energy sources, and sustainable materials from regional manufacturers. Also, a terrace will be partially converted into a green roof to provide natural insulation.
One of DC's turn-of-the-century landmarks, the Victor Building is a nine-story, 345,000-sf office property with ground floor retail, which was completely renovated in 1998. The Smithsonian Institution occupied the entire office portion until last year when it relocated.
CBRE's Pat Marr, Art Santry, Chris Soucie, and Sally Wilson handled the leasing transaction on behalf of the company. Holley Henderson with H2 Ecodesign is the project's LEED consultant. The design and construction team include Lehman Smith McLeish, GHT, MCLA, Knoll, and Rand Construction Corp.
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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.
