WASHINGTON, DC--With memories of negative absorbency still fresh, any lease expansion is good news. Tech-Marine Business is adding 11,258 square feet to its headquarters at 100 M St., SE, bringing the total to 32,575 square feet. West, Lane & Schlager's Richard Lane and Tom Fuge represented TMB in this deal.
Last summer TMB expanded to roughly 21,300 square feet at 100 M Street, SE. Its growth has been due to new contracts and new staff hires, Fuge says.
TMB looked at alternative expansion options in Crystal City, but decided to remain at its present location, according to Fuge.
100 M St., SE is a 243,221-square-foot property jointly owned by Houston-based Lionstone Investments and London-based Hermes Investment Management.
In Q2, the District posted a negative net absorbency of 128,114 square feet, bringing its year-to-date absorbency to a negative 372,745 square feet, according to JLL. The Washington DC area as a whole, though, is performing well thanks to strong activity in the Northern Virginia and suburban Maryland suburbs.
WASHINGTON, DC--With memories of negative absorbency still fresh, any lease expansion is good news. Tech-Marine Business is adding 11,258 square feet to its headquarters at 100 M St., SE, bringing the total to 32,575 square feet. West, Lane & Schlager's Richard Lane and Tom Fuge represented TMB in this deal.
Last summer TMB expanded to roughly 21,300 square feet at 100 M Street, SE. Its growth has been due to new contracts and new staff hires, Fuge says.
TMB looked at alternative expansion options in Crystal City, but decided to remain at its present location, according to Fuge.
100 M St., SE is a 243,221-square-foot property jointly owned by Houston-based Lionstone Investments and London-based Hermes Investment Management.
In Q2, the District posted a negative net absorbency of 128,114 square feet, bringing its year-to-date absorbency to a negative 372,745 square feet, according to JLL. The Washington DC area as a whole, though, is performing well thanks to strong activity in the Northern
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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.
