JLL signs lease at K St. building.WASHINGTON, D.C.: Somerset Partners, the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based private real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. , announced that it has signed a 10-year lease with Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a major real estate and money management services firm headquartered in the Aon Center in Chicago, Illinois and the only company in its industry making it into Fortune magazine's list of the 100 Best Places to Work in the U.S. , commencing in November 2007, for approximately 85,000 s/fat 1801 K Street, NW. The building is undergoing a major renovation and will serve as the firm's new Mid-Atlantic headquarters. Somerset Partners purchased 1801 K Street, NW in January 2006 with the intent to fully renovate and upgrade the building to meet current trophy standards. Skidmore, Owings & Merrill, LLP LLP - Lower Layer Protocol was selected to redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re the building and Jones Lang LaSalle to provide leasing, management and development services. Jones Lang LaSalle will also oversee construction for the project, which is scheduled to commence in July 2007. The building is expected to deliver in 2008. "The signing of Jones Lang LaSalle as the initial tenant of the 'new' 1801 K Street, NW represents the culmination of a year's worth of work by our team toward propelling pro·pel tr.v. pro·pelled, pro·pel·ling, pro·pels To cause to move forward or onward. See Synonyms at push. [Middle English propellen, from Latin the redesigned location into the upper echelon of prominent Washington DC business addresses," remarked Marshall Allan, principal of Somerset Partners. "Indeed, we at Somerset Partners are very pleased to announce the new Mid-Atlantic Headquarters of Jones Lang LaSalle." The project will feature the two newly renovated floors on top of the building, offering approximately 76,000 s/f of rentable space. Along with the base of the building, the top will be inset and reconfigured to add proportion and aesthetic appeal to the overall exterior. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion