CBRE To Move D.C. Office To New Dupont Circle Development
CBRE's D.C. office will soon shift from the East End to Dupont Circle, where it has just signed a major lease at a new development.
The real estate services firm leased 55K SF at JBG Smith's 1900 N St. NW development, CBRE announced Thursday, one of two new leases at the project.
JBG Smith also signed law firm Beveridge & Diamond for 41K SF, the developer announced Thursday. The leases bring the project to 65% leased after JBG Smith signed law firm Goodwin & Procter for 80K SF in April 2017, allowing it to kick off construction on the project.
CBRE will move into the building in early 2020 from its current office at 750 Ninth St. NW. CBRE's Lou Christopher, Jordan Brainard and Brian Murphy brokered the transaction for their firm, while JBG Smith's Dave Ritchey, Scott Franklin and Andrea Murray worked on the deal for the landlord. CBRE will use the office to highlight its "Workplace 360" initiative that uses technology to connect employees to building and neighborhood amenities.
Beveridge & Diamond is currently located at 1350 I St. NW. It will move in June 2021 to the second and third floors of 1900 N, plus a portion of the ground floor with a private entrance on N Street. The law firm was represented by Savills Studley's Gary Stein and Jon Glass.
JBG Smith is working with Fox Architects and KPF Design Architect on the $137M development. The project, sitting two blocks from Dupont Circle, will include 259K SF of rentable office space and 12,500 SF of retail. Leasing the lower floors of the new project represents a win for JBG Smith, as several new D.C. projects have secured tenants for the top floors but have lower floors that remain vacant.
"The superior design and forward-looking architecture of 1900 N Street has allowed us to successfully pre-lease a substantial portion of the building," Ritchey said in a release. "The bulk of the remaining space in our three under-construction office assets is extraordinarily well positioned at or near the top of the buildings with excellent views and light."
