WASHINGTON, DC — Avison Young announced the closing of 140,000 s/f in lease transactions at 1300 Eye St. NW in Washington, DC over the last 18 months. The 485,000 s/f historic building, commonly referred to as Franklin Square, recently underwent a stunning renovation to transform it into an iconic trophy office building.
Recognized as retrofit’s 2021 “Metamorphosis of the Year,” Franklin Square’s renovation was led by global investment managers Nuveen Real Estate and Norges Bank Investment Management, co-owners of the building.
Since the renovations delivered in early 2021, Nuveen and leasing partner Avison Young have executed five new leases totalling 112,000 s/f, and two lease renewals totaling 28,000 s/f. New tenants include the Conference of State Bank Supervisors, the Bank Policy Institute, Greenpeace, TIAA-CREF, and DAV (Disabled American Veterans), with lease renewals from the American Public Transportation Association and the American Water Works Association.
The Avison Young leasing team, led by principals Will Stern and Eli Barnes, senior VP Lauryn Harris and senior associate Alston Offutt, has represented Franklin Square for over 15 years. With the new leases, the building is now 95% leased.
The building’s transformation was a collaborative effort between Nuveen, Norges Bank Investment Management and Avison Young, with project management by Hines Company, property management through Cushman & Wakefield, the architecture designed by Hickok Cole Architecture, and construction performed by Rand Construction.
Originally designed by architect Philip B. Johnson, the building’s modernization embraced the sustainable practice of adaptive re-use. The addition of a new three-story glass entrance fronting Franklin Square Park brought the building’s bronze-clad grates and medallions to the building’s concourse level, where they became the perfect accent for the building’s conference facility and breakout rooms. Slab openings from the lobby to the concourse level create further synergies and connection points to the building amenity areas.
The building is LEED Gold rated and offers some of the latest technologies to provide healthier, safer spaces, including advanced air filtration via the building’s VAV HVAC system and CleanAir Ion units in the passenger elevators.