Newmark announces a new 47,418 square-foot lease for Texas A&M University at 1620 L Street, NW. Newmark Senior Managing Director Doug Damron and Managing Director Chris Lucey represented the tenant while JLL’s Nathan Beach represented the landlord.
The lease will serve as a new teaching site in Washington, DC for Texas A&M featuring The Bush School of Government and Public Service. The new site offers ground floor access to the space, which spans five floors of the property. For students, the location is within several blocks of the White House and other key government buildings.
“This new location makes perfect sense for the university as it helps their students get real-world experience in government and public service right in the heart of our nation’s capital,” said Damron. “The Class A office property met all of their needs to develop a world-class DC campus site with its excellent location and upgraded infrastructure.”
According to Newmark Research, leasing for the region’s Class A office market registered 594,600 square feet of net absorption during the second quarter of this year with a positive net demand of 215,129 square feet in the District of Columbia alone. The property is in the Golden Triangle Business Improvement District and offers unprecedented access to the city’s government offices. The building features an upgraded lobby, elevator cabs, common corridors and features an outdoor terrace on the third floor with an indoor/outdoor kitchen
as well as a state-of-the-art gym and a tenant-only conference facility.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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