1101 New York Ave. Picture courtesy of Oxford Properties Group
Allen & Overy LLP has signed a long-term lease renewal and restructure with Oxford Properties Group in Washington, D.C. The Am Legislation International 200 agency will increase its footprint at 1101 New York Ave. to a complete of 40,914 sq. ft.
Along with its presence on the eleventh flooring, the tenant will even occupy a part of the property’s tenth flooring. Renovations of the house are deliberate to start in 2023.
Stream Realty Companions’ Managing Director Matt Pacinelli, Government Managing Director Kyle Luby and Senior Vice President John Klinke represented the owner. Vice Chairs Tom Fulcher, Julie Rayfield and Managing Director Adam Brecher from the Savills advisory staff represented the tenant.
Producing renewable power
Oxford acquired the Class A workplace constructing in 2017 for $389.3 million, in accordance with CommercialEdge knowledge, with the assistance of a $186 million 10-year mortgage by Prudential Monetary.
Accomplished in 2006, the 12-story constructing sits on 0.7 acres and totals 379,329 sq. ft. The property additionally options 21,000 sq. ft of retail. Frequent-area facilities embrace an indoor/out of doors roof terrace, a health middle and a spa. Designed by Pritzker Prize-winning architect Kevin Roche, the LEED Platinum-certified property has numerous onsite photo voltaic sources that generate renewable power.
The power is in downtown Washington, D.C., near The White Home, with an array of eating choices, inexperienced areas, cultural and retail areas in its proximity.
Oxford, a Canadian multinational company, has been lively within the U.S. actual property market throughout numerous metros and asset sorts, together with workplace, industrial and retail. The corporate just lately acquired a three-building, 250,000-square-foot life science and workplace property in Carlsbad, Calif. Public information present that the agency paid $258.4 million for the asset, which is absolutely occupied by a pharmaceutical firm for the following 15 years.
