Ginormous (214k SF) Office Lease Up in D.C.
NREI Reports: Tishman Speyer Signs Law Firm to Largest Private Sector Lease This Year in D.C.
The law firm of Skadden, Arps, Slate. Meagher & Flom LLP has signed a 15-year lease renewal and expansion agreement for 213,674 sq. ft. at the Commercial National Bank Building in Washington, D.C. The building is owned by New York-based Tishman Speyer, which owns, manages and leases more than 11 million sq. ft. of high-quality office buildings in the region.
The lease announced today was executed in conjunction with Skadden’s simultaneous renewal and expansion agreement for 200,957 sq. ft. at 1440 New York Avenue, NW, which is owned by ING Clarion and directly connected to the Commercial National Bank Building.
Tishman Speyer’s transaction with Skadden is the district’s largest private sector lease signed this year, and the combined set of transactions represents one of the largest such lease deals in recent memory.