Savills Studley represents tenant in HQ relocation
WASHINGTON, DC — Global insurance solutions provider Clements Worldwide has relocated its Washington, DC office to 1301 K St. NW, in a move that directly reflects its rapid growth internally and further positions the company as a leader in the industry. Savills Studley, one of the leading commercial real estate services firm specializing in tenant representation, completed the transaction of the 21,000 s/f lease on behalf of Clements Worldwide.
Clements Worldwide’s continued expansion paired with the executive team’s desire to upgrade its headquarters to a more sophisticated and upscale location, prompted the move to One Franklin Square, located just two blocks from its previous address. The interior of the space was newly constructed and sits at one of the highest points in Washington, DC on the 12th floor at the top of 1301 K St. NW with direct views of Franklin Park. The geometry of the new floorplate is more efficient and modern in its design than the company’s previous space and aligns perfectly with the firm’s plans for further expansion. Additionally, the amenities at One Franklin Square, including a tenant-only fitness center, newly constructed roof top terrace and conference facility made it the ideal fit.
“We have doubled in revenue growth over the past five years and have aggressive targets for the next five. We needed a new space that would complement that growth,” said CFO, Tarun Chopra of Clements Worldwide. “One important element of that is there is now room for more staff and an open floor plan to encourage collaboration. Equally important, we needed space to accommodate client interaction given our current size and stature, as well as meetings with underwriters. We support many of DC’s leading humanitarian aid organizations, the State Department and USAID, contractors for those agencies, and more. So we required a location that was close to and best served our diverse and growing customer base.”
Savills Studley’s executive managing director Ben Plaisted and corporate managing director Greg Scheipers represented Clements Worldwide throughout the transaction. “It has been a pleasure working with the leadership team at Clements Worldwide on this very exciting project,” said Plaisted. “We are pleased that we were able to secure efficient space for the company’s new headquarters that will accommodate it for many years to come.”