Jim Potocki, Director of Leasing, Oxford Properties, said, “1101 New York remains a destination of choice for employers looking to gain an edge in the battle for talent. We are proud to partner with Milbank and deliver world-class amenities to their employees in a dynamic space that will maximize collaboration in a new, more modern era of work.”  

1101 New York stands adjacent to CityCenter, D.C.’s premier mixed-use environment, offering award-winning outdoor spaces, restaurants, abundant high-end retail, and best-in-class residential. The building’s floor-to-ceiling glass windows and tall ceiling heights provide ample natural light and air and offer spectacular unobstructed panoramic views of the D.C. skyline. The building’s architectural significance is further highlighted by its location on a high point downtown, encompassing an entire south-facing portion of the block overlooking CityCenterDC and New York Avenue.  

Oxford, NBIM, and Stream were assisted by Dale Schlather, Malcolm Marshall, and Alson Offutt of Cushman & Wakefield, who represented Milbank. Executive Managing Director and Partner Kyle Luby, Managing Director Matt Pacinelli, Senior Vice President John Klinke, and Vice President Tim McCarty of Stream, a national commercial real estate firm offering an integrated platform of services, represented the Oxford and Norges Bank.  

“We are excited to welcome Milbank to 1101 New York Avenue,” said Pacinelli. “Their decision to establish their D.C. offices here is a testament to the building’s appeal and our shared commitment to excellence. Milbank’s reputation as a global leader aligns perfectly with the prestige and modernity of this property, and we look forward to supporting their success in Washington, D.C.” 

The building currently has 28,000 square feet of premium office space available.  

For more information, contact Stream Washington, D.C., at 202.595.1400.   

About Oxford Properties 

Oxford Properties Group (“Oxford”) is a leading global real estate investor, developer and manager. Established in 1960, Oxford and its portfolio companies manage approximately C$84 billion of assets across four continents. Oxford’s owned portfolio encompasses office, logistics, retail, multifamily residential, life sciences, hotels, alternatives and credit in global gateway cities and high-growth hubs. A thematic investor with a committed source of capital, Oxford invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum. Together with its portfolio companies, Oxford is one of the world’s most active developers with over 70 projects currently underway globally across all major asset classes. Oxford is owned by OMERS, the Canadian defined benefit pension plan for Ontario’s municipal employees.  

For more information on Oxford, visit www.oxfordproperties.com. 

About Norges Bank Investment Management 

Norges Bank Investment Management manages the Norwegian Government Pension Fund Global. We manage assets worth more than 17,000 billion kroner, or about 1,590 billion dollars. The fund is invested in international equity and fixed-income markets, and in real estate and renewable energy infrastructure. The aim of the fund is to ensure responsible and long-term management of revenue from Norway’s oil and gas resources so that this wealth benefits both current and future generations of Norway. Our objective as manager of the fund is to generate the highest possible return on the fund. We aim to achieve this in a safe, efficient, responsible and transparent manner, and within government guidelines.  For more information, visit https://www.nbim.no/en/. 

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

The post Oxford Properties, Norges Bank Investment Management, & Stream Realty Partners Announce Major Lease with Milbank at 1101 New York Avenue in Washington, D.C. appeared first on Stream Realty Partners.

James Potocki, Director of Leasing, Oxford Properties, said, “1101 New York remains a destination of choice for employers looking to gain an edge in the battle for talent. We are proud to continue our partnership with prestigious organizations like Bloomberg, A&O Shearman, and National Retail Federation and deliver world-class amenities to their employees in a dynamic space that will maximize collaboration in a new, more modern era of work.”  

1101 New York stands adjacent to CityCenter, D.C.’s premier mixed-use environment, offering award-winning outdoor spaces, restaurants, abundant high-end retail, and best-in-class residential. The building’s floor-to-ceiling glass windows provide ample natural light and air while creating some of the best unobstructed panoramic views of the D.C. skyline. The building’s architectural significance is further highlighted by its location on a high point downtown, encompassing an entire city block with deep setbacks. Recent upgrades include a new 75-person conference center, an expansive indoor/outdoor rooftop terrace, a state-of-the-art fitness center, and Gensler-designed main lobby improvements that add to the forward-thinking, health-focused on-site experience. 

Oxford, Norges, and Stream were assisted by Elizabeth Cooper and Ken Patton of JLL, who represented the National Retail Federation; Tom Fulcher and Adam Brecher of Savills, who represented A&O Shearman; and Richard McBride of Colliers, who represented Bloomberg. Executive Managing Director and Partner Kyle Luby, Managing Director Matt Pacinelli, Senior Vice President John Klinke, and Vice President Tim McCarty of Stream, a national commercial real estate firm offering an integrated platform of services, represented the building.  

 “1101 New York Avenue is one of the finest office buildings ever constructed in Washington, D.C.,” said Luby. “Its unique design, featuring a floor-to-ceiling glass facade and absence of perimeter columns, offers natural light, air, and 180-degree panoramic views of the D.C. skyline. These features, combined with recent upgrades, make it an unparalleled location for business.”  

The building currently has 85,000 square feet of premium office space available.  

For more information, contact Stream Washington, D.C., at 202.595.1400.   

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

The post Oxford Properties, Norges Bank, & Stream Realty Partners Announce Major Lease Commitments at 1101 New York Avenue in Washington, D.C. appeared first on Stream Realty Partners.

 1899 L, which was recently acquired by Taicoon Property Partners, is a landmark 152,000-square-foot office building situated along 19th Street’s vibrant “Restaurant Row.” Renovations in 2022 included the main lobby, elevator cabs, a chilled beam mechanical system, a conference center, a fitness center, a bike room, and more.  

 Future renovations planned by Taicoon Property Partners will feature an updated façade, enhanced restrooms, and common areas, redesigned retail storefronts, and a comprehensive modernization of the building’s amenities and infrastructure.  

 “As the proud new owner of 1899 L, I am thrilled to announce exciting renovations that will create an unparalleled environment for tenants and visitors alike,” said Hai Chien Wang, CEO and Co-Founder of Taicoon Property Partners. “This repositioning underscores our commitment to fostering a vibrant community and premier space-making for businesses and professionals.”  

 “1899 L has always had significant potential given its strategic location in the heart of the CBD,” said Stream Managing Director Matt Pacinelli. “We are excited to partner with Taicoon Property Partners to further enhance the building and deliver one of the most compelling office projects in Downtown D.C.”  

 Stream represented Taicoon Property Partners in the acquisition, with Managing Directors Charlie Smiroldo and Matt Pacinelli leading the buyer representation. The sale was facilitated by Collins Ege and Bradley Allen of Eastdil Secured, who represented the seller.   

 In addition to advising on the acquisition, Stream also serves as the leasing agent for the building. Office suites from 2,500 square feet to 13,000 square feet are currently available. For leasing information, contact Matt Pacinelli, Vanessa Carrion, or Kenneth Williams of Stream Washington, D.C., at 202.595.1400.  

About Taicoon Property Partners 

Taicoon Property Partners is a forward-thinking real estate development company in the Washington, D.C. area revolutionizing the industry through creative and innovative approaches that add significant value to properties.  By constantly challenging traditional norms, we strive to set new benchmarks in the real estate sector and deliver exceptional value to our clients and stakeholders.   

Our company vision is to be recognized as a trailblazer in the real estate industry, setting new standards for innovation, creative adaptive use of space, and a belief in community-focused development.     

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services, including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes more than $8.8 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

The post Stream Realty Partners and Taicoon Property Partners Announce Strategic Office Building Acquisition and Renovation in Washington, D.C.’s CBD appeared first on Stream Realty Partners.

“We are grateful for the opportunity to join forces with Brookfield Properties in the leasing efforts across four CBD assets,” said Luby. “The combination of stable ownership, an amenity-rich offering, and a service-oriented experience create an ideal officing opportunity for both employees and guests.” 

“We are excited to partner with Stream Realty Partners to attract new tenants to four of our CBD office buildings,” said Bobby Swennes, Executive Vice President and Head of the Mid-Atlantic and Southeast Region, Brookfield Properties. “This assignment is a testament to Stream’s growth and continued success across the region.  We feel like their team understands the value proposition of our amenitized office assets and unique tenant engagement program, Activated.” 

About 2001 M Street  

The 10-story, 285,000-square-foot tower in Dupont Circle offers tenants access to a sweeping rooftop terrace and lounge with views of the National Cathedral and the Washington Monument. Additional amenities include a fitness center and an on-site golf simulator. 2001 M St. is LEED Gold Certified.  

About 1220 19th Street 

The 9-story, 104,395-square-foot building offers tenants access to an on-site conference center and lounge, a fitness center and restaurants, including The Well Dressed Burrito, Ristorante i Ricchi and Petite Maman, in addition to the retail and dining offerings in Dupont Circle. 1220 19th St. is LEED Gold Certified.  

About 2000 M Street  

The 8-story, 239,037-square-foot building features an on-site conference center, a fitness facility, bicycle parking, and proximity to signature restaurants and retail experiences within Dupont Circle.  

About 1140 Connecticut Avenue  

The 12-story, 186,007-square-foot building provides tenants with walkable access to Dupont Circle’s dining, shopping, and entertainment offerings. In addition to its amenity-rich location, the building offers tenants access to conference rooms and a fitness center.  

The portfolio boasts a flexible variety of available space, including pre-built suites, with vacancies scaling 600 to 45,000 square feet. As a part of Brookfield Properties’ commitment to sustainability, its entire D.C. region office portfolio will be powered by zero-carbon electricity beginning in 2024.  

For leasing information, contact the Stream Washington, D.C. team at 202.595.1400. 

About Brookfield Properties 

Brookfield Properties is a leading global developer and operator of high-quality real estate assets. We are active in nearly all real estate sectors, including office, retail, multifamily, hospitality, and logistics, operating more than 900 properties and over 350 million square feet of real estate in gateway markets on behalf of Brookfield Asset Management, one of the largest asset managers in the world. With a focus on sustainability, a commitment to excellence, and the drive for relentless innovation in the planning, development, and management of buildings and their surroundings, Brookfield Properties is reimagining real estate from the ground up. For more information, visit www.brookfieldproperties.com. 

About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services, including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing and dedicated research. The company is headquartered in Dallas and operates 15 core offices in markets that cover areas including Alexandria, VA; Arlington, VA; Atlanta; Austin, TX; Boca Raton, FL; Charleston, SC; Charlotte, NC; Chicago; Colorado Springs, CO; Dallas; Denver; Fort Lauderdale, FL; Fort Worth, TX; Greenville, SC; Houston; the Inland Empire; Irvine, CA; Los Angeles; Miami; Nashville, TN; Orange County, CA; Phoenix; Raleigh-Durham, NC; Reston, VA; San Antonio; Tysons; Washington, D.C.; and South Florida. Since 1996, Stream has grown to more than 1,400 professionals and now completes more than $8.8 billion annually in office, industrial, retail, healthcare, land and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.

The post Stream Realty Partners Awarded Four Building Office Portfolio in Washington, D.C. appeared first on Stream Realty Partners.

Fried Frank will continue to occupy nearly 103,000 square feet on floors five through eight in Lafayette Tower at 801 17th Street NW. The firm signed a 10-year lease extension to remain in the 11-story building through 2037. Fried Frank is an original tenant of the building, which opened in 2010 and is currently undergoing renovations. An affiliate of Morgan Stanley Real Estate Advisor owns the property.

Stream Realty Partners Executive Managing Director and Partner Kyle Luby and Managing Directors Matt Pacinelli and Andy Eichberg represented the landlord in the transaction. CBRE Vice Chairman Craig Reicher, Executive Vice President Chau Leung, First Vice President Mark Minich Jr., Vice Chairman Tim Dempsey, Executive Vice President Ramneek Rickhy, and Chairman Stephen Siegel represented the tenant. Stream, a national commercial real estate firm offering an integrated platform of services, has a growing office in Washington, D.C., focused on office landlord and tenant representation.

“We are delighted to renew our lease at Lafayette Tower,” said Jonathan L. Mechanic, Chairman of Fried Frank’s Real Estate Department. “The decision to remain in this location reinforces our appreciation for this fantastic space and the important and long-standing relationship that we have with the ownership team.”

Stream Washington, D.C., has been working with the building’s owner to reinvigorate the amenities in the tower, including a completely renovated and expanded fitness center. The rooftop terrace with stunning views of the White House, U.S. Capitol, and Washington Monument also will undergo a makeover inside and out. A new indoor lounge and event space, bar area, and catering kitchen will complement a revamped outdoor terrace with a heated pergola for all-year use.

“Lafayette Tower is a beautifully built-out space in a prime location and very much enhances the professional experience of our people,” said Michael Alter, Managing Partner of Fried Frank’s Washington, D.C., office. “We are thrilled to continue to call this space our home in D.C.”

Lafayette Tower is currently 90% leased, with several speculative suites available ranging from 3,900 square feet to 8,000 square feet.

“Highly amenitized buildings with strong ownership and first-class property management will continue to be attractive to the best tenants in the market,” Eichberg said. “Fried Frank saw value in remaining in the building long term as we continue to improve the amenity base and service offerings. In addition, we were able to structure the lease so the firm could re-invest in its space to create a more employee-centric environment. It was a true ‘win-win’ for both sides that wouldn’t have come to fruition without a great working relationship between all parties.”

For leasing information, contact Stream Washington, D.C., at 202.595.1400.

The post International Law Firm Fried Frank Renews Long-Term Lease At Premier Washington, D.C., Office Building  appeared first on Stream Realty Partners.

The non-profit will lease 35,000 square feet–half the fourth floor­–at District Center at 555 12th St. NW. EDF, which is currently located at Universal North at 1875 Connecticut Ave. NW, is expected to move into its new home in October 2023.

EDF’s decision to relocate to District Center, a Class A, 12-story building in the East End submarket, was driven by a desire to re-envision its office space and provide easy access to robust building and neighborhood amenities that will elevate the staff experience, interaction, and enjoyment.

District Center, a joint venture between MetLife Investment Management and Norges Bank Investment Management, offers a total of 850,000 square feet with a host of desired indoor and outdoor amenities. It features an atrium lounge with hospitality-inspired seating; a fitness center with high-end equipment, group and personal training services, lockers, and showers; and ample bicycle storage.

The office building’s rooftop Sky Lounge boasts 3,391 rentable square feet of enclosed conference/entertainment space, as well as outdoor terrace areas along the 12th Street side. Folding glass doors separate the lounge spaces and can be opened or closed for tenant events. On-site retail offerings include Tosca Ristorante, Celadon Spa, Saks Fifth Off Fifth, Nordstrom Rack, and Potbelly Sandwich Works.

Stream Realty Partners’ Managing Directors Matt Pacinelli and Andy Eichberg and Senior Vice President John Klinke represented the landlord. Michael Goldman, Claire Poole, and Adam Collins of Transwestern represented EDF. Stream, a national commercial real estate firm offering an integrated platform of services, has a growing office in Washington, D.C.

Suites ranging in size from 4,000 square feet to 30,000 square feet are currently available at District Center. For information, contact Stream Washington, D.C., at 202.595.1400.

The post Environmental Defense Fund To Relocate Its Washington, D.C., Office To District Center appeared first on Stream Realty Partners.

AFA, which has owned the property at 1501 Langston Blvd. in Arlington, Virginia, since 1984, signed a short-term leaseback prior to relocating. AFA’s Board of Directors approved the sale in April.

“The building has served our association very well for many years,” said AFA President and CEO Lt. Gen. Bruce Wright, USAF (Ret.). “But as we have evolved it, it has become clear that the AFA of today, and especially tomorrow, has different needs than those of 40 years ago. A more modern and flexible facility will enhance our operational capability and open new doors to growth in the future. That, in turn, will enable us to be ever more effective advocates for the Airmen and Guardians of our U.S. Air Force and Space Force.”

The 85,422-square-foot, Class B office building sits on 1.3 acres in the prominent and much sought-after Rosslyn neighborhood in Arlington’s Rosslyn-Ballston Corridor. AFA occupies 28,715 rentable square feet, while the rest of the property is leased to 10 other tenants.

“AFA is on a mission to modernize and that includes creating new, technology-driven space in a location that puts it closer to its business partners and government agencies,” Saffer said. “We look forward to continuing our partnership with the entire AFA team and helping advance its mission well into the future.”

1501 Langston Blvd. was 79% leased at the time of sale.

The post Stream Realty Partners And Cresa Represent Air & Space Forces Association In $16.25 Million Office Building Sale appeared first on Stream Realty Partners.

In July, the firm moved from several suites in Chinatown to a 17,000-square-foot space at 740 15^th St., NW.  Invariant’s decision to relocate to the historic 11-story building in the East End submarket was driven by a desire to re-envision its office space, prepare for future growth, and provide easy access to robust building and neighborhood amenities that will elevate employee experience, collaboration, and enjoyment.

“We are thrilled to be settled into our new space,” said Heather Podesta, Invariant’s Founder and CEO. “The office sets us up for continued excellence in client services and team building, with meeting spaces and amenities designed for all our needs. We look forward to growing our team here.”

740 15^th St., NW, owned and partially occupied by the National Community Reinvestment Coalition (NCRC), offers a total of 175,000 square feet with many desired amenities. It features robust conferencing facilities; a fitness center with high-end equipment, lockers, and showers; and ample bicycle storage.

On-site retail offerings include Joe’s Seafood, Prime Steak & Stone Crab.

“I’m excited to welcome Invariant as our newest neighbor,” said Jesse Van Tol, President and CEO of NCRC. “The pandemic underscored for all of us the value of in-person work and the vital importance of picking a space that facilitates energetic, cooperative, and flexible experiences for staff and clients. I’m proud Invariant chose to make their new home with us.”

Stream Realty Partners Managing Director Matt Pacinelli, Senior Vice President John Klinke, and Associate Josh McDonald represented NCRC. Stream, a national commercial real estate firm offering an integrated platform of services, has a growing office in Washington, D.C. Melanie Matthews and Samuel Buckner of The Tenant Agency represented Invariant.

Suites ranging in size from 3,500 square feet to 5,700 square feet are currently available at 740 15^th St., NW. For information, contact Stream Washington, D.C., at 202.595.1400.

The post Invariant Relocates Its Washington, D.C., Office To 740 15th St., NW appeared first on Stream Realty Partners.

The federal agency moved out of 600 E St. NW as part of a larger consolidation in NoMa, shedding more than 1 million square feet across four buildings for nearly 840,000 square feet at Three and Four Constitution Square. That has forced the landlords on the losing end of that migration to take a hard look at the future of their aging office buildings, many for the first time in decades.

Such is the case at the southwest corner of Sixth and E streets, where S.C. Herman & Associates is nearing the point where it will need to make a choice: A more modest improvements to its roughly 340,000-squarefoot, red brick building at 600 E or a more exhaustive overhaul to convert the 10-story structure into trophy-class office with a new glass facade.

The District-based developer has retained Stream Realty Partners to pitch the two scenarios, with market demand to help determine which of the two paths it will take. S.C. Herman has retained DEP Designs, which also helped it come up with new designs for 1441 L St. NW after losing another federal agency there.

“We’re sort of taking a dual path. We’re in the process of designing a full building reposition, which effectively would be an entirely new building other than the structure itself,” said Matt Pacinelli, a managing director with Stream Realty. “We need to make a decision rather soon. There are a couple immediate opportunities that we’re taking to, and short of that, it makes it easy to go down the path of a redesign.”

A more intensive renovation could boost rental rates by $10 per square foot or more, with gross rental rates in the mid-to-upper $60s under the more intensive scenario, Pacinelli said. Even under the less-intensive scenario, the building to be branded as Penn Quarter Place will still benefit from planned upgrades including a new, two-story corner lobby, private rooftop space, new fitness center and secured bicycle storage.

S.C. Herman isn’t alone. Tishman Speyer is also considering conversion to trophy office at 601 D St. NW once the Justice Department moves out early next year, and the owners of 1425 New York Ave. NW and 1331 Pennsylvania Ave. NW will be left with similar choices. Part of the question is whether those landlords should target federal agencies or private companies with larger budgets to spend on high-end space.

That will depend on a number of factors including the location and condition of the buildings, said federal leasing expert Darian LeBlanc, a vice chairman at Cushman & Wakefield. The New York Avenue property, for example, is a mid-block building near the White House, making the building an easier sell to replacement federal tenants. Either way, he said, the faster those buildings lease up, the better for the larger community of federal agency landlords.

“The whole market should be rooting for those guys, because the one thing we don’t need or want is more space put back on the market that just sits there,” LeBlanc said.

By: Daniel J. Sernovitz
SOURCE: Washington Business Journal

The post Without Justice, this Downtown D.C. Office Building is Being Primed for Change appeared first on Stream Realty Partners.

The landlord plans to renovate the 276K SF office building at 1125 15th St. NW as the Department of Homeland Security vacates as part of its larger consolidation plan. DHS has already vacated all but 65K SF of the building, and it is expected to depart the rest by year’s end.

Once it leaves, S.C. Herman plans to renovate, rebrand and re-lease the building to the private sector, an effort it has retained Stream Realty Partners to lead. It will rebrand the building as Midtown Square, a nod to the major development just completed across the street for Fannie Mae, Midtown Center.

“We love the moniker, it really creates an identification for the 15th and Vermont corridor north of K Street but south of Massachusetts Avenue,” Stream Realty Managing Director Matt Pacinelli said of the Midtown label. “It now defines a micro-market that previously lacked identification.”

S.C. Herman is also renovating the office building at 1441 L St. NW, a property the Bureau of Economic Analysis vacated and where it has now signed coworking provider Spaces. It is planning to renovate a building the Department of Justice is vacating at 600 E St. NW.

The 1125 15th St. NW renovation will be less extensive than the other two projects, Pacinelli said. It will redesign the common areas, add an outdoor terrace, a bicycle storage room, a 3K SF fitness center, a 2K SF meeting facility and new restrooms.

But the landlord aims to keep costs down so it can maintain the building’s status in the Class-B market, with rents in the upper $40/SF to low $50/SF range. Class-B office stock has shrunk as buildings have been redeveloped to Class-A and trophy-level projects. It maintains strong demand from value-conscious tenants, making it a more appealing segment for some landlords.

“The idea is a fully renovated building with large-block availability at a discount to similar projects elsewhere,” Pacinelli said. “There are very few available Class-B buildings with large-scale availability, particularly in the Central Business District and East End.”

By: Jon Banister
SOURCE: BISNOW

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