Ocean West Announces Long-Term Lease Extension with the District of Columbia at Sentinel Square II

WASHINGTON, July 21, 2026 /PRNewswire/ -- Ocean West Capital Partners ("Ocean West") is pleased to announce the successful execution of an eight-year lease extension with the District of Columbia, through its Department of General Services, at Sentinel Square II, located at 1050 First Street NE in Washington, D.C.'s NoMa submarket.

The District has been a valued tenant at Sentinel Square II for nearly a decade. Although their lease was not scheduled to expire until 2029, Ocean West proactively negotiated a long-term extension that secures the tenancy for an additional eight years while increasing the property's weighted average lease term by nearly five years. The District, which currently maintains an AA+ credit rating, occupies approximately two-thirds of the building, making the transaction a meaningful enhancement to the property's long-term income stability and value.

Ocean West led the lease negotiations on behalf of ownership, coordinating closely with the District, tenant and landlord representatives, and the property's lender to structure a transaction that met the objectives of all parties while strengthening the property's long-term positioning.

"We greatly value our long-standing relationship with the District of Columbia and are pleased to have reached an outcome that supports both the District's continued occupancy at Sentinel Square II and ownership's long-term objectives," said Russ Allegrette, Chief Executive Officer and Co-Founder of Ocean West Capital Partners. "By engaging with the District well ahead of lease expiration and working collaboratively with all stakeholders, we were able to secure a long-term commitment from an investment-grade tenant while thoughtfully structuring the economics to benefit both ownership and the tenant. Transactions like this require creativity, persistence, and strong partnerships."

The lease extension showcases Ocean West's proactive asset management approach and commitment to creating value through strategic tenant relationships, disciplined capital stewardship, and thoughtful execution.

About Ocean West Capital Partners
Ocean West Capital Partners is a full-service real estate investment and management platform dedicated to identifying and executing opportunities that create long-term value for its partners and investors. Since its founding in 2010, Ocean West has completed over $7.5 billion of commercial real estate transactions and has overseen a portfolio exceeding 17 million square feet of office and industrial properties, as well as approximately 4,500 student housing beds and 1,000 apartment units. The firm invests with both domestic and international clients and is active in all facets of property ownership, including property management, asset management, construction management, and capital markets.

For press information please contact John Weiss, 213-784-1131, [email protected]. 

SOURCE Ocean West Capital Partners