MetLife, Norges Bank Secure Tenant at DC Office Building
An environmental non-profit organization will relocate its local office to the 850,000-square-foot property.
Environmental Defense Fund has signed a 35,000-square-foot lease at District Center, a Class A, 850,000-square-foot office building in Washington, D.C. MetLife Investment Management and Norges Bank Investment Management own the 12-story property; the joint venture picked up the asset in 2014 for $505 million, CommercialEdge data shows.
The environmental non-profit organization will relocate its local office from Universal North, at 1875 Connecticut Ave. NW, to District Center’s fourth floor this October. Stream Realty Partners negotiated on behalf of the landlord, while Transwestern represented the tenant.
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Completed in two phases, between 1995 and 1998, and most recently renovated in 2018, District Center occupies an entire city block at 555 12th St. NW. The LEED Gold-certified building has a 12-story atrium, 59,500-square-foot floorplates, 144,000 square feet of retail space and five levels of below-grade parking.
Amenities include an 8,000-square-foot fitness center, an atrium lounge and outdoor terraces, as well as various smart building features. The property’s tenant roster currently features Deloitte, Beckham Advisors, Salmon Group Inc. and American Property Casualty Insurance Association, among others.
Stream Senior Vice President John Klinke, together with Managing Directors Matt Pacinelli and Andy Eichberg, represented the landlord. Transwestern Executive Vice President Michael Goldman, Vice President Adam Collins and Senior Associate Claire Poole advised the future tenant.
Office leasing in the District
Located near multiple bus and subway stations, District Center is three blocks east of The White House and 4 miles from Ronald Reagan Washington National Airport. The property is also 1 mile from Lafayette Tower, the 325,000-square-foot office building where law firm Fried Frank recently renewed its 103,000-square-foot lease.
The Washington, D.C., office market’s leasing activity fluctuated throughout 2022, according to CommercialEdge information. One of last year’s largest deals was the 331,000-square-foot lease signed by The Department of Justice at the Judiciary Center.
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