{"id":1004596357,"date":"2022-08-10T06:22:59","date_gmt":"2022-08-10T14:22:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004596357"},"modified":"2022-12-08T16:22:31","modified_gmt":"2022-12-09T00:22:31","slug":"mortgage-bankers-association-renews-hq-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mortgage-bankers-association-renews-hq-lease\/","title":{"rendered":"Mortgage Bankers Association Renews HQ Lease"},"content":{"rendered":"
\"1919

1919 M Street NW. Image courtesy of JBG Smith<\/p><\/div>\n

The Mortgage Bankers Association<\/strong> has extended its headquarters lease in Washington, D.C. MBA will continue to occupy 34,560 square feet of Class A office space at 1919 M Street NW until 2035. Avison Young<\/strong> represented the tenant in its negotiations with the building\u2019s owner, 1919 M Street Association Limited Partnership<\/b>.<\/p>\n

In addition to the 13-year lease extension, MBA obtained the reduction of rent costs by more than $4.2 million and funds for the leased space remodel to align with a hybrid work environment. The landlord also agreed to upgrade the building\u2019s systems and public areas, as well as to create a tenant-only conference center.<\/p>\n

The negotiated office restructuring comes amidst an architectural revision<\/a> of many workspaces due to the pandemic, with MBA in particular seeking to refine its hybrid work model for its members.<\/p>\n

An office building on M Street<\/h2>\n

Completed in 1967 and renovated in 2000, the 272,000-square-foot office building rises eight stories in Washington, D.C.’s Central Business District. The LEED Gold-certified property houses various tenants, such as the College Board and ABC Imaging, among others, according to CommercialEdge data. Its location, at the intersection of 20th and M streets, provides quick access to Georgetown, Capitol Hill and the Dupont Circle Metro Station.<\/p>\n

Avison Young Senior Vice President Laura Peterson and Principals Bruce McNair and Will Travis represented MBA in the transaction. McNair said, in a prepared statement, MBA made a long-term commitment not just to Washington, but also to the Central Business District, its home for decades.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new contract includes a significant reduction of rent costs. <\/p>\n","protected":false},"author":3012,"featured_media":1004596353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,11,21742,21747],"tags":[51638,33022,32779,34040],"class_list":["post-1004596357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-midatlantic","category-latest","category-office","tag-1919-m-street-association-limited-partnership","tag-avison-young","tag-leed","tag-mortgage-bankers-association"],"acf":[],"yoast_head":"\nMortgage Bankers Association Leases Headquarters Until 2035 - CPE<\/title>\n<meta name=\"description\" content=\"The lease extension, which was brokered by Avison Young, also reduces MBA's rent by $4.2 million, and helps it refine its hybrid workspace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mortgage-bankers-association-renews-hq-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Bankers Association Renews HQ Lease\" \/>\n<meta property=\"og:description\" content=\"The lease extension, which was brokered by Avison Young, also reduces MBA's rent by $4.2 million, and helps it refine its hybrid workspace.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mortgage-bankers-association-renews-hq-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-10T14:22:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:22:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/08\/1919_2-e1660075573508.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"813\" \/>\n\t<meta property=\"og:image:height\" content=\"609\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/\"},\"author\":{\"name\":\"Gabriel Frank\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/cf1bfd2d6753f6ea305911ffd020862c\"},\"headline\":\"Mortgage Bankers Association Renews HQ Lease\",\"datePublished\":\"2022-08-10T14:22:59+00:00\",\"dateModified\":\"2022-12-09T00:22:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/\"},\"wordCount\":269,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/08\\\/1919_2-e1660075573508.jpg\",\"keywords\":[\"1919 M Street Association Limited Partnership\",\"Avison Young\",\"LEED\",\"Mortgage Bankers Association\"],\"articleSection\":[\"Brokerage\",\"Mid-Atlantic\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mortgage-bankers-association-renews-hq-lease\\\/\",\"name\":\"Mortgage Bankers Association Leases Headquarters Until 2035 - 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