Morrison & Foerster Chooses 2100 L Street for DC Headquarters
LAW FIRM TO MOVE INTO OVER 80,000 SQUARE FEET IN NEW AKRIDGE DEVELOPMENT
WASHINGTON, Oct. 4, 2017 /PRNewswire/ -- Akridge announced today that it, along with joint venture partner Corporate Office Properties Trust (COPT) (NYSE: OFC), and Argos Group, has executed a lease with global law firm Morrison & Foerster LLP for 81,300 square feet at 2100 L Street. The trophy office building will be 190,000 square feet and is now 43 percent preleased. 2100 L Street will feature multiple façades of floor-to-ceiling glass and a beautifully designed, sculptural embellishment designed by renowned artist Jan Hendrix. Construction is slated to begin in the second quarter of 2018, with delivery in the first quarter of 2020. Morrison & Foerster will move into the trophy office building in January 2021.
Morrison & Foerster's new home will feature an impressive list of building amenities, including a landscaped rooftop terrace and rooftop lounge, penthouse conference center, fitness center, art gallery with outdoor terraces, and more. 2100 L Street will boast 20,000-square-feet floorplates, which were designed to maximize efficiency. The project's highly-desirable location provides easy access to a number of increasing neighborhood amenities and four bustling Metro lines (Red, Orange, Blue, and Silver Lines).
"Akridge is honored to announce Morrison & Foerster as the lead Client at 2100 L Street," said Akridge President Matt Klein. "Akridge, COPT, and Argos have worked hard to create a project with a sophisticated design, an efficient floor plate, and an excellent mix of building amenities. It is gratifying that a firm as prestigious as Morrison & Foerster has chosen 2100 L Street as its new home."
Cushman and Wakefield's Audrey Cramer and Malcolm Marshall represented Morrison & Foerster, while Ben Meisel, Wil Pace, Tim McCarty, and McKay Elliott of Akridge provided landlord representation for the property.
About Akridge
Akridge is a comprehensive real estate services company that has invested in the Washington Metropolitan area for over four decades. It provides acquisitions, design and construction management, development, finance and asset management, leasing, and property management services. For over forty years, the company has acquired, developed, or entitled more than 14.2 million square feet of office, industrial flex, residential, retail, and entertainment space. Akridge has another 9 million square feet in its active pipeline, currently manages approximately 3.6 million square feet, and has a portfolio with an estimated value of over $2.0 billion. Notable projects include the 1-million-square-foot Gallery Place, the internationally recognized Homer Building, and the 3-million-square-foot Burnham Place air rights development project at Union Station. For more information please visit www.akridge.com.
About COPT
Corporate Office Properties Trust (COPT) (NYSE: OFC) is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology ("IT") related activities servicing priority missions ("Defense/IT Locations"). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets within its regional footprint with durable Class-A office fundamentals and characteristics ("Regional Office Properties"). As of June 30, 2017, the Company derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of June 30, 2017, and including six buildings that are owned through an unconsolidated joint venture, its core portfolio of 153 office properties encompassed 16.6 million square feet and was 94.8% leased. As of the same date, it also owned one wholesale data center with a critical load of 19.25 megawatts.
About Argos Group
Argos Group is an innovative real estate developer of residential and commercial properties, providing the highest level of quality, and value to its clients, and investors. Argos specializes in urban-infill, and transit oriented developments, in both private and public-private partnerships. Argos devoted attention to accuracy and fiduciary responsibility makes us a leader as a hands-on steward of premier public-private development ventures. Argos experience includes the renovation and adaptive reuse of historic landmarks such as the Engine House, and Police Station in Capitol Hill, and the Montrose in historic Georgetown. For more information, please visit argosg.com.
About Morrison & Foerster
Morrison & Foerster ("MoFo") is a leading global law firm whose more than 950 lawyers serve its global client base from 16 offices in the United States, Asia and Europe. MoFo is a leader in a broad range of legal fields, including litigation, financial services, intellectual property and technology, and transactional work, such as corporate, capital markets and real estate finance representations. For more information please visit www.mofo.com.
SOURCE Akridge
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