Mar-30-2017 || Office building
March 28, 2017 (Washington, D.C.) – West, Lane & Schlager Realty Advisors, LLC (WLS), a leading Washington, D.C.-based commercial real estate brokerage firm specializing in tenant representation, announced today that it has completed a 5,590-square-foot headquarters lease relocation for the Apartment and Office Building Association of Metropolitan Washington (“AOBA”) at 1025 Connecticut Avenue, NW in the District of Columbia.
In this long-term transaction, WLS Principal Matt Levin, SIOR, LEED AP, and former Assistant Vice President Tom Fuge negotiated for AOBA, which began operations in 1974 and is the leading membership organization representing commercial and multi-family real estate in the Washington, D.C. market.
Currently at 1050 17th Street, NW, a property slated for razing, AOBA will move to the Blake Building at 1025 Connecticut Ave. NW this June, about six months prior to its lease expiration.
WLS performed an extensive search of options for this client, with AOBA leaders deciding on 1025 Connecticut Ave. NW for several reasons, Levin says. For one, the organization’s new home is in close proximity to 1050 17th St. NW, and AOBA has a strong familiarity with the general area.
Levin adds that WLS secured aggressive lease terms for AOBA, which will help the organization offset its relocation expenses and construction build-out costs.
Furthermore, Levin says, “Our client’s current office at 1050 17th St. NW is outdated, while AOBA’s new headquarters at the Blake Building provides a much more efficient floorplan design and layout that aligns with the organization’s mission.”
“We retained West, Lane & Schlager about a year ago to assist us in relocating to new office space in anticipation of the demolition of our current building. WLS was integral in uncovering every option for us, ultimately securing a new space in the same neighborhood, keeping our costs low with minimal out-of-pocket expenses. They’ve made the whole process seamless and simple while keeping our best interests in mind.”
About West, Lane & Schlager Realty Advisors, LLC:
Washington, D.C.-based West, Lane & Schlager Realty Advisors, LLC is a leading commercial real estate brokerage firm that exclusively represents tenants in the Washington, D.C. Metropolitan Area. Clients of West, Lane & Schlager include professional services companies such as law firms, as well as nonprofit organizations and trade associations. Services provided by West, Lane & Schlager are tenant representation, investments, construction management, strategic planning, and operating-expense reviews.
Neil Adler of D*MNGOOD®