Akin Gump Relocating To 185k SF At Under-Construction Alexander Court
Rockrose Development and Spitzer Enterprises have landed another major tenant for the JV's CBD redevelopment project, Alexander Court.
Akin Gump will occupy the top four floors at the north building, 2000 L St. NW. The 185k SF lease will begin in 2019, after the firm moves out of its 212k SF spread at Boston Properties' 1333 New Hampshire Ave. NW. Avison Young brokered the deal for the landlord while CBRE represented the law firm.
Rockrose bought the 2000 L St. building in 2013 and, together with former New York Gov. Eliot Spitzer, is combining it with 2001 K St. NW to create an 800k SF trophy office building. The buildings will be connected with a 12-story atrium and will have access to a rooftop terrace and 7,500 SF fitness center. The building is set to deliver by the end of the year, Rockrose director Ted Traum said.
The JV landed its first new tenant last summer when Cornerstone Research signed for 43k SF in the L Street building. Paul, Weiss also renewed its lease in the K Street building last summer and expanded from 51k SF to 62k SF. The K Street building is nearly fullly occupied while the L Street side still has roughly 175k SF left to lease after signing Akin Gump. Traum said the Akin Gump lease gives the project significant momentum, and he has received interest from other potential tenants.
"It validates the project and indicates how well it's being received in the market," Traum said. "Akin Gump is a large tenant that really had their pick of the litter in terms of all the available product. The fact that they selected us speaks to how well it’s being received in market and how people appreciate the quality of the architecture and amenities."
