Newmark Knight Frank Chosen to Lease DC Office
- May 09, 2019
Newmark Knight Frank has been tapped to lease a 309,039-square-foot Class A office building in Washington, D.C., which GreenOak Real Estate acquired last year. The real estate investment management firm purchased the asset from The Carlyle Group for $174.5 million, per Yardi Matrix data.
The new owner intends to begin renovations of the eight-story building at 1200 New Hampshire Ave. NW in mid-2019. The overhaul will add a fitness center, tenant lounge, new entrance, lobby upgrades, new glass façade for retail storefronts and other improvements.
The property, which is almost fully leased, is located near the Dupont Circle and Foggy Bottom metro stations in the U.S. capital’s downtown business district, amid a cluster of high-end restaurants, lifestyle options and luxury hotels and residences. Completed in 1980, the building underwent cosmetic renovations in 1995 and 2011. The Carlyle Group purchased the property from The James Street Group in 2007.
NKF’s Chairman, Asset Services Brendan Owen, along with Director Suzanne White and Associate Morgan Monroe will oversee the office leasing.
Last October, GreenOak followed up its acquisition of the building by teaming up with MRP Realty to buy a 157,000-square-foot office property just blocks away. The joint venture picked up the Lion Building at 1233 20th St. NW from JBG Smith for $65 million.