American Councils was occupying a 38,000 square foot lease located at 1776 Massachusetts Avenue, NW. With an upcoming lease expiration date and limited growth opportunities within the building, they turned to West, Lane & Schlager to find opportunities outside the building.
During the time, Washington, D.C. had seen more than its fair share of renewed leases. Even amidst lower rental rates and an increase in concession packages offered at alternate locations, tenants were not moving.
WLS leveraged these market conditions and their client’s willingness to consider options outside their current building to secure a ten-year, 38,000 square foot lease on the top two floors at 1828 L Street, NW, consolidating the staff onto two contiguous floors with horizontal growth opportunities over the term of the lease. The building proved attractive to the nonprofit due to planned renovations to the lobby and entry-way, construction of a state-of-the-art, tenant-only gym, and significant “green building upgrades” addressing the HVAC system, bathrooms, and other areas. In addition, the landlord has already achieved Energy Star and is pursuing a LEED EB rating.
American Councils and WLS have worked together for almost 20 years. WLS has been a trusted and valued advisor to both our organization and senior staff. When time came to evaluate our office space again, WLS provided us with the trusted advice and creative counsel we needed. Since we moved in 2009, WLS has continued to provide us with ongoing exemplary service as our needs continue to change.
John Henderson, Chief Financial Officer, American Councils for International Education
The combination of building quality, physical space attributes and competitive effective rent structure created a perfectly opportunity for American Councils to move at a time when other groups were staying put.