WASHINGTON, DC—The US General Services Administration has awarded a 15-year, mega lease of 839,000-square feet to StonebridgeCarras. The Department of Justice is taking the space at the developer's Constitution Square sprawling complex in NoMa.
It is impossible to overstate the significance of this lease. It will undoubtedly be the largest office lease in the District for 2015 and it is the largest federal government lease in DC in thirteen years since the Department of Transportation leased 1.3 million square feet in 2002.
Cushman & Wakefield's Government Services Group represented StonebridgeCarras and its partner in this project, Walton Street Capital. GSA was represented by CBRE's team of Henry Chapman and Sara Dunston. The GSA contracting officers were Joel Berelson and Sean McNeal.
The DoJ will occupy all of Three Constitution Square and Four Constitution Square.
Three Constitution Square, located at 145 N St., NE, is a 350,000-square foot building that delivered in 2013. Four Constitution Square, located at 150 M St., NE, will break ground next year and will connect to Three Constitution Square on 5 floors.
There is a certain symmetry to DoJ choosing Constitution Square again for a major lease, StonebridgeCarras Principal Doug Firstenberg says in a prepared statement. DoJ was the first tenant to pre-lease space in Constitution Square when it was first being developed in 2008 – and when the NoMa neighborhood was still in its infancy. It inked a 15-year lease to occupy Two Constitution Square, a 600,000-square foot building.
Three and Four Constitution Square is the final phase of the mammoth project, which totals 2.6-million-square feet. "It is very rewarding for the tenant that first made a major commitment to the project before it started is the tenant that brings completion to this 2.6 million square foot endeavor," Firstenberg says.
The DoJ will begin a phased occupancy starting with Three Constitution Square in late 2016 and continuing into Four Constitution Square beginning in late 2018.
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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.
