The US Department of Homeland Security leased 34,773 sf, taking the entire second floor and part of the third floor. Point Carbon, a private sector environment firm based in Oslo, Norway, has leased 9,887 sf on the third floor. Point Carbon already has an office in the District; it will be relocating its operations to Capitol Plaza I. Both plan to occupy their new space in Nov. 2008.
Joe Michel of CB Richard Ellis represented the landlord in both lease transactions. Located at 1200 First St. NE, Capitol Plaza I was acquired from a partnership that included Stephen A. Goldberg in April 2007 for $94.5 million. The asking rate for the remaining space is in the mid-$40s per sf, full service, Michel tells GlobeSt.com.
Despite the year-long wait to lease tenants in Capitol Plaza I, NoMa is picking up in activity since the Department of Justice announced it would lease 521,000-sf in the submarket earlier this year. National Public Radio acquisition of 1111 N. Capitol St. from J Street Development at the same time placed NoMa's on the non-profit sector's radar.
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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.
