Pillsbury Chooses New Akridge Development for DC Headquarters

WASHINGTON, Jan. 31, 2013 /PRNewswire/ -- Akridge announces today a fully executed lease agreement with Pillsbury Winthrop Shaw Pittman LLP at 1200 Seventeenth Street NW in Washington's central business district. The prestigious international law firm will occupy 105,000 of the 168,000 square feet in Akridge's latest trophy class development, currently under construction in the city's Golden Triangle neighborhood. Akridge, along with investment partner Mitsui Fudosan America, purchased the site as a speculative development and is pleased to have secured this major lease just as demolition of the old building was completed and construction of the new building commences. 

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Akridge and Pillsbury signed a letter of intent in September 2012, signaling that a move to the new location was imminent for their Washington office. Currently located at 2300 N Street NW, Pillsbury will move in to 1200 Seventeenth Street in January of 2015.

"After a very thorough search across the City, we are confident in our decision to make 1200 Seventeenth Street our new home," stated Christine Nicolaides Kearns, Managing Partner in the DC office. "The building's central location, highly efficient design, sustainability and aesthetics make this a very attractive choice for our firm and for our clients."

Echoing her enthusiasm for the lease was P. Brian Connolly, Senior Vice President at Akridge, who noted, "1200 Seventeenth Street will make an excellent new office for Pillsbury's Washington lawyers and staff. We look forward to delivering a first class and highly sustainable building, supported by our award-winning property management services that will serve as an ideal destination for any firm."  

Lois Zambo, David Lipson, and Tyler Bensten of Studley Inc's Washington office represented Pillsbury, while Greg Tomasso and Ben Meisel of Akridge provided landlord representation for the property.

With 63% of the building pre-leased, nearly 63,000 square feet, or four floors of the building, remain available for lease to other high-profile organizations. Designed to achieve LEED Platinum certification, building occupants will experience expansive views and ample natural light as a result of the high ceiling heights and broad column spacing on each floor.  A fully equipped fitness facility including locker rooms, showers and towel service will be offered to building Clients, as well as an expansive rooftop terrace overlooking the city. Akridge will serve as the building's property manager. 

About Akridge

Akridge is a comprehensive real estate services company that provides acquisition, development, construction management, asset management, property management, leasing, and consulting services. Founded in 1974, the company has acquired or developed more than 12 million square feet of commercial space and currently manages four million square feet throughout the DC area. The industry's foremost benchmarking firms, CEL & Associates, and Kingsley Associates, has ranked Akridge as a top performing real estate firm in the country for Client satisfaction. Akridge is committed to sustainable development and practices, and has been recognized as an Energy Star Top Performer and Partner of the Year. The company has also been honored with the National Capital Business Ethics Award, and has been recognized as the Best Place to Work in Greater Washington by the Washington Business journal. For more information, please visit www.akridge.com.

About Mitsui Fudosan America

Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York, NY. MFA is the U.S. subsidiary of Mitsui Fudosan Co., Ltd., Japan's largest publicly quoted real estate company. MFA's history in the U.S. markets dates back to the early 1970's and includes its acquisition and redevelopment of the renowned Halekulani Hotel in Waikiki, Hawaii, with additional investments in San Francisco, Los Angeles, Washington, D.C., Chicago and New York. MFA's flagship commercial property is located at 1251 Avenue of the Americas in New York, one of the city's most prestigious business addresses. In 2012, MFA acquired an 80% interest in the Homer Building and a 95% interest in 1200 17^th Street, both in Washington D.C.

SOURCE Akridge