Avison Young Completes 140,000 SF of Leasing in 18 Months at Newly Renovated Franklin Square in Washington, DC

WASHINGTON, March 6, 2023 /PRNewswire/ -- Avison Young announced today the closing of 140,000 square feet (SF) in lease transactions at 1300 Eye Street NW in Washington, DC over the last 18 months. The 485,000-SF historic building, commonly referred to as Franklin Square, recently underwent a stunning renovation to transform it into an iconic trophy office building.

Recognized as retrofit's 2021 "Metamorphosis of the Year," Franklin Square's renovation was led by global investment managers Nuveen Real Estate and Norges Bank Investment Management, co-owners of the building.

Since the renovations delivered in early 2021, Nuveen and leasing partner Avison Young have executed five new leases totaling 112,000 SF, and two lease renewals totaling 28,000 SF. New tenants include the Conference of State Bank Supervisors, the Bank Policy Institute, Greenpeace, TIAA-CREF, and DAV (Disabled American Veterans), with lease renewals from the American Public Transportation Association and the American Water Works Association.

The Avison Young leasing team, led by Principals Will Stern and Eli Barnes, Senior Vice President Lauryn Harris and Senior Associate Alston Offutt, has represented Franklin Square for over 15 years. With the new leases, the building is now 95 percent leased.

"We are pleased to welcome these new tenants and continue the partnerships with existing tenants at Franklin Square," Stern said. "With a renovation that both honors and enhances an iconic piece of history, Franklin Square combines the charm of years past with the best of today's workplace technologies and amenities."

Franklin Square is prominently situated on the south side of Franklin Square Park, which recently received a $21 million renovation that features a new restaurant pavilion, children's play area, seating, lighting and pathways.

Thanks to its floor-to-ceiling windows, Franklin Square offers sweeping views of the park's transformation throughout the north side of the building. 

"With the phenomenal renovations of both the building and the park, Franklin Square has caught the attention of numerous tenants across the DC region," Harris said.

Originally designed by architect Philip B. Johnson, the building's modernization embraced the sustainable practice of adaptive re-use. The addition of a new three-story glass entrance fronting Franklin Square Park brought the building's bronze-clad grates and medallions to the building's concourse level, where they became the perfect accent for the building's conference facility and breakout rooms.

"Franklin Square has enhanced its focus on hospitality, flexibility, sustainability and convenience to bring its tenants and their guests back into the office," Barnes said. "The results are extraordinary."

More information and a short video about the building can be found at www.franklinsqdc.com.

ABOUT AVISON YOUNG

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.

For more information:

• Josh Peyton, Principal and Managing Director, Washington DC Metro, Avison Young: 703.752.4929
• Will Stern, Principal, Avison Young: 202.644.8553
• Eli Barnes, Principal, Avison Young: 202.644.8550
• Lauryn Harris, Senior Vice President, Washington D.C., Avison Young: 202.644.8680
• Alston Offutt, Senior Associate, Washington D.C., Avison Young: 202.644.8554

SOURCE Avison Young