This Week's D.C. Deal Sheet
Texas A&M University is expanding its footprint in Downtown D.C. from 47K SF to over 70K SF, Newmark announced this week.
The university's Bush School of Government and Public Service signed its first lease at 1620 L St. NW in 2020. The new lease, first reported by the Washington Business Journal, expands the school’s presence in the Farragut North neighborhood for the next 15 years.
Newmark’s Doug Damron and Chris Lucey represented Texas A&M, while JLL’s Doug Mueller, Evan Behr, Nathan Beach and Thomas Myers represented the landlord, DivcoWest.
“Texas A&M was at the forefront of universities choosing to create a beachhead here in DC, offering students greater access to study the workings of our federal government and institutions,” Damron said in a release. “The University’s expansion reinforces its long-term commitment to DC and is a testament to the success of the school’s presence in the district.”
The deal is the latest in a trend of colleges and universities taking more space downtown. Experts say the moves could be a key tool in revitalizing struggling office-heavy corridors.
The University of Southern California purchased a 60K SF building in Dupont Circle this spring. Syracuse University plans to move into another Dupont property at 1333 New Hampshire Ave. NW as it expands its District programming. Along the downtown corridor, Johns Hopkins is preparing to move into the former Newseum on Pennsylvania Avenue this fall.
Forty colleges and universities have planted satellite campus flags in D.C., with the majority located between the White House and Capitol Hill, according to JLL.
“Universities are a very sticky tenant base from a physical occupancy perspective,” JLL Mid-Atlantic Research Lead Michael Hartnett told Bisnow in May. “They are really presenting a great opportunity to revitalize pockets of the downtown market that have seen reduced foot traffic during the pandemic and now into 2023."
LEASES
Illinois-based Compass Health Center is moving out of the Prairie State for the first time with a move to Silver Spring in September. The behavioral health facility will take 15.7K SF at 11941 Bournefield Way, a move that will bring over 100 new jobs to the area, according to a press release this week from the Montgomery County Economic Development Corp. The center will also offer virtual services throughout Maryland. Savills’ Brandon Nasatir represented the tenant, and Edge represented the landlord.
SALES
Local affordable housing developer American Housing purchased a 25-unit multifamily building in D.C.’s Brightwood neighborhood as part of a Tenant Opportunity to Purchase Act agreement. Marcus & Millichap facilitated the $4.65M sale on behalf of NOVO Properties. Built in 1937, the property is three stories and totals 22K SF.
MILESTONES
Ox Hill Cos.' 200K SF mixed-use development in Old Town Fairfax was approved to move forward this week, according to a release. City Centre West, a seven-story building at 10501 Main St., is planned to feature 79 residential units, 8,500 SF of medical offices and 28K SF of commercial offices.
The development would house a drive-thru bank, ground-floor retail and a park. Ox Hill is working with New York City-based Thomas Juul-Hansen on the architecture and interior design. The development is expected to break ground in March and deliver in spring 2026.
PERSONNEL
Edward Chaglassian joined Bernstein Management Corp. as an executive vice president and president of the firm’s development arm, according to a press release.
Chaglassian comes from a 20-year career at JBG Smith, where he most recently served as executive vice president of investments and head of acquisitions. Chaglassian was also a member of the publicly traded REIT’s investment committee for 15 years. He helped shepherd Amazon’s HQ2 to National Landing and was involved in negotiations with Virginia Tech for its new Innovation Campus at Potomac Yard, according to the release.
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Mike O’Hara, principal of Bohler DC, was elected as co-chair of the Washington DC Economic Partnership’s Board of Directors. O’Hara, who has been on the board since 2020, will co-chair alongside interim Deputy Mayor of Planning and Economic Development Keith Anderson.
He replaces former co-Chair Donna Cooper, who stepped down in May. WDCEP is the city’s public-private partnership aimed at promoting business and development in D.C. Bohler DC has had a presence on the board for the last decade.
