Clements Worldwide Picks One Franklin Square As Headquarters

One Franklin Square

WASHINGTON, DC—About two years ago, One Franklin Square was about 45% vacant despite its excellent location at 130K St., NW. Then the Washington Post made up its mind that the 600,000-square foot building would be its new home, a decision that followed, indeed almost overlapped, with Reed Smith’s renewal of 80,000-square feet there. As part of the renewal, building owner Hines promised to make several upgrades, including refurbishing the building’s elevators, creating an internal connection to the restaurant space from the lobby, and installing automated security turnstiles. The spruce up notwithstanding, the building’s marquee tenants has given it a leg up  with tenants evaluating whether they want to make a move as well. Exhibit A is global insurance solutions provider Clements Worldwide, which is relocating its Washington, DC headquarters from its current location two blocks away, and taking 21,000-square feet. The company’s growth plans and the executive team’s desire to upgrade “to a more sophisticated and upscale location,” is what prompted the move, according to Savills Studley. The company’s Ben Plaisted and Greg Scheipers represented Clements in the transaction. Clements will be moving to the 12 ^th floor in a newly-constructed interior space. There were other reasons for the move than just the address, of course. Clements has doubled in revenue growth over the past five years and needed more space. Studley says that the geometry of the new floorplate at One Franklin Square is more efficient and modern than the company’s previous space and aligns well with its plans for further expansion.  The amenities at One Franklin Square are nice too:  they include a tenant-only fitness center, a new roof top terrace and conference facility “Equally important, we needed space to accommodate client interaction given our current size and stature, as well as meetings with underwriters,” said CFO Tarun Chopra.