Clarion Partners Inks 51 KSF Lease at DC Mixed-Use
- Dec 07, 2018
Clarion Partners has signed coworking provider AdvantEdge Workspaces to occupy 51,268 square feet at Chevy Chase Pavilion, a mixed-use lifestyle center in Washington, D.C. Cushman & Wakefield represented the owner in the lease transaction. The firm is also handling the property’s management. Clarion previously purchased the asset in 2005 from Lowe Enterprises, for $212.7 million.
Located at 5335 Wisconsin Ave. NW, the 360,000-square-foot building comprises 205,385 square feet of Class A office, 44,550 square feet of retail and 110,065 square feet of hotel space. The office portion is situated atop the Friendship Heights Metro station. The building is among the most energy efficient in the metro and has achieved ENERGY STAR and LEED silver certifications. Originally completed in 1990, the property was renovated in 2013. Other current tenants include The Cheesecake Factory, Old Navy, T-Mobile, the National Kidney Foundation, CVS and Friedlander Misler, according to Yardi Matrix.
“Chevy Chase Pavilion is a proven location for professional services tenants who prefer a DC address within a mixed-use environment more amenable to work-life balance,” said Executive Managing Director Bobby Schwartz, in a prepared statement. “It’s an ideal site for a coworking provider like AdvantEdge Workspaces and its growing roster of entrepreneurial and enterprise clients.”
The Cushman & Wakefield Agency Leasing team included Schwartz, Matt Sullivan and Kirsten Ryan. CBRE’s Tony Bolino represented the tenant in the deal. Last month, the firm represented FOJP Service Corp. in lease negotiations for 41,836 square feet at 111 W. 33rd St. in Manhattan.
Image courtesy of Yardi Matrix