Oxford Properties Inks Lease Expansion in DC

1101 New York Ave. Image courtesy of Oxford Properties Group

Allen & Overy LLP has signed a long-term lease renewal and restructure with Oxford Properties Group in Washington, D.C. The Am Law Global 200 firm will expand its footprint at 1101 New York Ave. to a total of 40,914 square feet.

In addition to its presence on the 11th floor, the tenant will also occupy part of the property’s 10th floor. Renovations of the space are planned to begin in 2023. 

Stream Realty Partners’ Managing Director Matt Pacinelli, Executive Managing Director Kyle Luby and Senior Vice President John Klinke represented the landlord. Vice Chairs Tom Fulcher, Julie Rayfield and Managing Director Adam Brecher from the Savills advisory team represented the tenant.

Generating renewable energy

Oxford acquired the Class A office building in 2017 for $389.3 million, according to CommercialEdge data, with the help of a $186 million 10-year loan by Prudential Financial.

Completed in 2006, the 12-story building sits on 0.7 acres and totals 379,329 square feet. The property also features 21,000 square feet of retail. Common-area amenities include an indoor/outdoor roof terrace, a fitness center and a spa. Designed by Pritzker Prize-winning architect Kevin Roche, the LEED Platinum-certified property has various onsite solar sources that generate renewable energy.

The facility is in downtown Washington, D.C., close to The White House, with an array of dining options, green areas, cultural and retail spaces in its proximity.

Oxford, a Canadian multinational corporation, has been active in the U.S. real estate market across various metros and asset types, including office, industrial and retail. The company recently acquired a three-building, 250,000-square-foot life science and office property in Carlsbad, Calif. Public records show that the firm paid $258.4 million for the asset, which is fully occupied by a pharmaceutical company for the next 15 years.