GSA Renews 2 DC Office Leases

The agency will continue to occupy more than 29,000 square feet at the 160,897-square-foot property in the city's central business district.
625 Indiana Avenue NW
625 Indiana Avenue NW

The General Services Administration has renewed two leases totaling 29,071 square feet at 625 Indiana Avenue NW, a 160,897-square-foot office building in Washington, D.C. The agency will continue to occupy a 14,598-square-foot space for eight more years, while the other 14,473-square-foot lease carries a new 15-year term.

Cushman & Wakefield’s Scott Johnston negotiated the deal on behalf of landlord Office Properties Income Trust, a REIT managed by The RMR Group Inc.’s operating subsidiary. According to Yardi Matrix data, OPI acquired the asset in 2010 for $51.5 million from Rosecliff Realty. The 11-story building came online in 1988 in the city’s central business district. RMR manages the Class B property which includes a fitness center and covered parking.

Situated less than 2 miles from the city center, 625 Indiana Avenue NW is a block from Pennsylvania Avenue, just east of U.S. Navy Memorial Plaza and within walking distance of Verizon Center and the Smithsonian. The property is also less than a mile west of a 609,000-square-foot office building where The National Governors Association signed a 23,000-square-foot lease renewal and extension in February.