NGKF lands anchor tenant for renovated 740 Fifteenth St.
WASHINGTON, DC — New America Foundation, an independent DC-based think tank, has signed a 15-year, 50,536 s/f lease for the top three floors at 740 Fifteenth St., NW. Listed on the National Register of Historic Places, the former Union Trust Building is located just one block from the White House and recently benefited from a multi-million dollar renovation project.
The John Buck Company acquired the 11-story, 175,000 s/f building, from the American Bar Association in 2011 and began renovations in 2013. These include modernization and expansion of the building's lobby, as well as new elevator cab interiors, restrooms, common areas and fitness center. Newmark Grubb Knight Frank’s Brendan Owen, chairman, metropolitan Washington asset services, and George Vogelei, director, are leasing agents for the property.
“New America is a civic enterprise driven by big ideas and renewing America’s promise in the digital age. We also curate unique ways to engage with broad audiences,” said Anne-Marie Slaughter, president and CEO of New America. “We believe our new headquarters supports and strengthens these goals. 740 Fifteenth St. is a modernized building that allows us to be proximate to the core of policy making while helping us to extend our reach far beyond the Beltway. As we reinvent the think tank, we’re thrilled to help forge a new America while staying close to our nation’s historic roots.”
The nonprofit organization, which is relocating from L St., was attracted to 740 Fifteenth St.’s culturally significant location, visibility and its 16,700 s/f floor plates with exceptional views.
“The John Buck Company's commitment to provide a best-in-class office environment has successfully landed an anchor tenant for the building, in otherwise stagnant market conditions. The upgrades to the historic property, combined with the location, views and onsite Joe’s Seafood, Prime Steak and Stone Crab restaurants distinguishes 740 Fifteenth St., NW, from its peers,” said Owen.
New America's future office is approximately 20,000 s/f larger than the space it occupies at 1899 L St. 740 Fifteenth St. will provide the organization with room to grow and onsite venues for hosting events, according to New America's leasing representatives MGA’s Michael Goldman, president, and Taylor Manning, managing director.
Owen added, “There remains 48,496 square feet available for lease, including two full floors at approximately 16,700 square feet each, or suites starting from 1,883 square feet. All common areas, including the lobby, tenant-only fitness center, elevators and restrooms feature high-end finishes.