Property Group Partners Selects Cassidy Turley as Exclusive Leasing Agent for I-395 Air Rights Development in Washington, DC
WASHINGTON, Feb. 2, 2012 /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has been selected by Property Group Partners to provide exclusive leasing services for the I-395 Air Rights Development in downtown Washington, DC. The seven acre site is situated on three city blocks and will become a multi-phase master-planned development with approximately 2.2 million square feet of commercial space, with a focus on office space. Cassidy Turley's Art Santry, Zeke Dodson, Phillip Thomas, Laurie McMahon and Will Stern will represent Property Group Partners.
The I-395 Air Rights Development will occupy the largest continuous undeveloped site in downtown DC. It will be developed over a recessed portion of U.S. I-395 that is bordered by Massachusetts Avenue to the north, E Street to the south, Third Street to the west and Second Street to the east. The ambitious project, which will be built on a platform over the active highway, will ultimately consist of four office buildings, one residential structure, ground floor retail and enclosed parking. It will likely become the first U.S. Green Building Council LEED® Platinum certified urban air rights development in the U.S., and Washington's first EcoDistrict. An official name for the development will be unveiled in coming weeks.
"The development of this site will finally reconnect Capitol Hill and the East End, as originally designed in L'Enfant's master plan for the city," commented Art Santry, Senior Managing Director with Cassidy Turley. "Furthermore, the I-395 Air Rights Development will offer private firms the opportunity to lease large blocks of contiguous space, fulfilling their immediate needs as well as future needs for expansion," he continued.
All four office buildings within the project are designed to exceed LEED Platinum certification and feature digital HVAC systems with variable air volume and clean indoor air and water conservation. Other amenities include high-speed passenger elevators, full-height glass curtain walls offering views of the U.S. Capitol and Washington Monument, concierge service, 24-hour security officers and lobby attendants, on-site fitness and child care facilities, ground floor retail and roof terrace with outdoor seating, private restrooms and catering facilities.
"The I-395 Air Rights Development truly represents a historic opportunity for Washington, DC," said Jeffrey Sussman, founder and president of Property Group Partners. "We're confident that the Cassidy Turley team will play a pivotal role in helping us lease these buildings, which will occupy the finest and newest office district in the city," he continued.
For more information about the development and its specifications, click here.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
About Property Group Partners
Property Group Partners has developed, acquired and managed first-class office buildings in North America and Europe for over 40 years. Active in the Washington real estate market since the early 1970s, it developed and manages Station Place, the 1.6-million-square-foot development connected to Union Station that is the headquarters of the SEC, 1101 New York Avenue and 801 Seventeenth Street. Property Group Partners also developed and owned the Four Seasons Hotel in Georgetown and 2001 K Street. For more information, please visit www.pgp.us.com.
SOURCE Cassidy Turley