Tesla Motors Signs 3,469 RSF 5-Yr Showroom Lease at The Lenkin Company and Tower Companies' 1050 K Street

First Washington Area Showroom for the Zero-Emission Premium Automaker

WASHINGTON, Feb. 10, 2011 /PRNewswire-USNewswire/ -- The Lenkin Company and The Tower Companies announced today that premium electric carmaker, Tesla Motors, has signed a 3,469 RSF, 5-year showroom lease at the LEED Gold 1050 K Street, in the heart of DC's central business district. Heralding their first entry into the Washington area, the Palo Alto, California-based Tesla is the first carmaker permitted to open an automobile showroom and servicing center in an office building in downtown DC.

(Photo: http://photos.prnewswire.com/prnh/20110210/DC43416)

The Tesla Roadster revolutionized the automobile industry by offering a sports car that accelerates faster than most supercars yet produces no emissions. Tesla is also set on revolutionizing the car buying experience. Unlike traditional car dealerships, Tesla stores are designed to be stylish and inviting, where people are welcome to learn about Tesla technology. The showroom is open for business.

"We are excited Tesla choose DC and our building to showcase their stellar product," stated Edward Lenkin, owner of The Lenkin Company.

"Tesla's zero-emission vehicles are precisely the types of environmental innovations that will drive affordable mass-market consumer choices in the future," stated Jeffrey S. Abramson, partner, The Tower Companies, "and we are thrilled to have this environmental leader in our award-winning green building."

Tesla's Vice President of Store Design and Development George Blankenship, represented the tenant, and KLNB Retail Services' Jennifer Price and Mike Pratt represented the owners.

About Tesla Motors

Tesla's goal is to produce increasingly affordable electric cars to mainstream buyers – relentlessly driving down the cost of EVs. Palo Alto, Calif.-based Tesla has delivered more than 1,300 zero-emission cars to customers in North America, Europe and Asia. Tesla designs and manufactures EVs and EV powertrain components. It is currently the only automaker in the U.S. that builds and sells highway-capable EVs in serial production. The Tesla Roadster accelerates faster than most sports cars yet produces no emissions.  

About 1050 K Street

1050 K Street, conveniently located near public transportation and the Walter E. Washington Convention Center, was previously a paved parking lot which was replaced with a building capable of retaining its own storm water and that of its site while using the storm water for irrigation of the street planters and the green roof.  The collected storm water is distributed on the site by means of a bio-retention system.  The building features the latest green technology, efficient water use, fresh indoor air, 100% wind power, and maximized use of daylight.  The building reduces tenants' carbon footprint, is 26% more energy efficient than ASHRAE 90.1 standards, saves 2 million gallons of water yearly, removes 85% of airborne pollutants, and replaces 100% of the air every 51 minutes.  The design incorporates a heat recovery wheel, which captures embodied energy in the exhaust air, which would normally be wasted, and allows it to be used to pretreat the incoming supply air.  The skin of the building contains a blue glass with high shading coefficient that gives the building a unique character and differentiates itself from the other transparent glass buildings in the area. The glazed curtainwall and hi-tech glass system assures thermal comfort. Over 67% of the building's materials are sourced locally.

About The Lenkin Company

Founded in the 1930's The Lenkin Company is a full-service management and construction firm that has developed and built over 4.5 million square feet of commercial properties and approximately 2,200 apartment units in the Greater Washington Metropolitan area.  1050 K Street is their first USGBC LEED® Gold certified construction.

About The Tower Companies

The Tower Company is a closely held, award winning real estate Development Company founded in 1947, headquartered in Rockville, MD, and recently named "2010 Awards of Excellence Development Company of the Year," by Multi Housing News for their corporate green initiatives and outreach.  Tower is EPA certified carbon-neutral and a member of Climate Leaders, ENERGY STAR and Green Power Partnership programs.  Tower has developed 4.5 million square feet of office buildings, office parks, 1,400 apartments, regional malls, residential communities, lifestyle centers, and hotels within the DC area. Of this total, one million square feet are sustainable buildings and another 2.5 million square feet are in the planning stages.

Contact:

Elizabeth Oliver-Farrow


202.494.1977



SOURCE The Tower Companies



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http://www.towercompanies.com

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