Washington, D.C., September 19, 2012 - Cushman & Wakefield announced today that four speculative suites are being constructed at Washington Square, located at 1050 Connecticut Avenue, NW in Washington, D.C. The Ultimate Office Suites at Washington Square, which vary in size from 4,300 to 7,300 square feet, will be available for occupancy April 2013.
Brian Tucker, Executive Managing Director, Brian Raher, Executive Vice President, Michael Katcher, Executive Director and John Dragelin, Associate, comprise the Cushman & Wakefield team that represents the building's owners, Lerner Enterprises and The Tower Companies.
"We are thrilled that this landmark office tower, which historically has appealed to larger tenants, is now in a position to accommodate the smaller users in the marketplace as well," said Mr. Katcher. "These suites will feature timeless, high-end finishes throughout, with exceptional views from the tenth floor overlooking L Street and 18th Street, and tenants won't need to devote time and resources to constructing their office space."
An emphasis is being placed on designing the new spaces in accordance with LEED® standards, and to the highest quality. Features include high-end finishes, private offices with full height glass fronts for access to views of L and 18th Streets at the perimeter, wood and stone feature walls, stone reception desks, decorative accent lighting and all have pantries with stone countertops and all appliances included. The Class A building is currently more than 96% leased, and will build out the new suites on the tenth floor. In addition, 150,000 square feet in the building will become available in early 2013 to accommodate larger users.
The building is located at 1050 Connecticut Avenue at L Street, NW in the Central Business District, with direct access to the Farragut North Metro Station. Washington Square was originally developed by Lerner and Tower in 1982 and recently completed a major $14-million dollar common area renovation. The building is host to over 20 onsite amenities, including Morton's The Steakhouse, Au Bon Pain, Starbucks Coffee, a U.S. Post Office and a state-of-the-art fitness center, in addition to a mix of exclusive retail shops and financial services. This year, the American Bar Association signed a lease of 60,000 square feet to relocate its headquarters to the building, the law firm of Baker Hostetler signed a lease to renew and expand its space to 115,000 square feet and the law firm of Gibson, Dunn & Crutcher LLP signed a lease to renew and expand its space to 205,000 square feet. Additional information can be found at WashingtonSquareDC.com.
About Lerner Enterprises
Lerner Enterprises (Lerner.com) of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is Washington, D.C.'s largest private real estate developer and is involved in all phases of commercial, residential, retail, hotel and mixed-use real estate. This includes planning, development, construction, leasing and asset and property management. Lerner has developed and currently manages more than 20 million square feet of office buildings, retail centers and residential communities. In addition to Washington Square, Lerner's office portfolio is comprised of many well-known developments including: 2000 Tower Oaks Boulevard (TowerOaks.com) with LEED® Platinum Certification, Rockville, MD; The Corporate Office Park at Dulles Town Center (DullesTownCenter.com), Dulles, VA; The Corporate Office Centre at Tysons II (Tysons2.com), Tysons Corner, VA; Fallsgrove Village Office Center (FallsgroveVillageCtr.com), Rockville, MD; White Flint North, North Bethesda, MD; 20 M Street (20MStreetSE.com) with LEED® Gold Certification, SE, Washington, D.C.; 1133 Connecticut Avenue, NW, Washington, D.C.; Flint Hill Office Park (FlintHillOfficePark.com), Fairfax, VA; 7799 Leesburg Pike, Falls Church, VA; and 400 Army Navy Drive, Arlington, VA , among many others.
Lerner has been the recipient of numerous NAIOP and other industry awards (Lerner.com/Awards.html) in its 60-year history including the Honor Award for Design Excellence in the Fairfax County 2009 Exceptional Design Awards Program for 1800 Tysons Boulevard in The Corporate Office Centre at Tysons II.
About The Tower Companies
The Tower Companies (TowerCompanies.com) is a closely held, award winning real estate Development Company founded by Albert Abramson in 1947 and ranks #16 on the 2012 EPA Green Power Purchasers List. Most recently Tower won the US Green Building Council of the National Capital Area 2012 Awards of Excellence LEED® Project of the Year for Existing Buildings: Operations and Maintenance for Blair Towns, and 2010 Awards of Excellence for Development Company of the Year from Multi Housing News for their corporate green initiatives. Tower is EPA certified carbon-neutral and a member of ENERGY STAR and Green Power Partnership Leadership programs. Tower is also the first Real Estate Development Company to become Climate Registered with The Climate Registry. Tower has developed 4.5 million square feet of office buildings, office parks, 1,400 apartments, regional malls, residential communities, lifestyle centers and hotels within the D.C. area and 87% of their properties are LEED® certified sustainable buildings. Three properties are LEED Platinum certified.
About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at CushmanWakefield.com.