Issue One is a 501(c)(3) organization based in Washington, D.C. Founded in 2012, Issue One had moved offices on a few different occasions before settling on a headquarters location in the Dupont Circle neighborhood of Washington, D.C.
Issue One moved into their building at 11 Dupont Circle, NW for a term of three years. The following year, an adjacent building became slated for redevelopment, which meant that Issue One would suffer the misfortune of losing the majority of their window line with nearly two years of remaining liability under the current lease. Issue One retained West, Lane & Schlager in hopes of finding a solution to the worrying prospect of losing the natural light into their space.
WLS learned that the landlord at 11 Dupont Circle was investing significantly at another one of its buildings, 1401 K Street, in an effort to attract new tenants and boost leasing activity. As a result, the landlord agreed to terminate Issue One’s existing lease and liability at 11 Dupont Circle in exchange for a move to 1401 K Street.
West, Lane & Schlager helped us understand all of the alternatives available to us when it became clear we had an important real estate problem to solve. Their level of expertise and professionalism made a potentially very stressful decision easy to understand, ultimately leading to the best possible solution for us. We would strongly recommend them to any organization.
Amelia Leonardi, CFO
WLS was able to achieve Issue One’s first priority: finding a solution to move out of its current space as soon as possible. Additionally, Issue One was able to relocate into a higher quality building, reduce its per square foot base rental rate, upgrade the quality of its space in a buildout funded entirely by the landlord and position the space for growth in the coming years.