Proskauer, Albright Stonebridge Expand in D.C.
- Jul 01, 2014
By Adrian Maties, Associate Editor
Two international firms are expanding their presence in Washington, D.C. Global law firm Proskauer and the Albright Stonebridge Group, an international strategy consulting firm founded in 2001 by Madeleine Albright, recently signed leases that together total more than 80,000 square feet of office space.
Proskauer has signed a 15-year lease for 48,216 square feet of space at 1001 Pennsylvania Ave. The firm currently occupies part of the fourth floor in the 14-story, Class A office building. It will relocate to the sixth floor.
“Our office has grown significantly over the past eight years at 1001 Pennsylvania, both in terms of lawyers and breadth of work. We are very excited to expand into a larger space that will accommodate our growth and tradition of guiding clients through the laws and regulations that affect every aspect of their businesses. We look forward to the next 15 years and continuing our strong relationship with (property manager) Hines,” Paul Hamburger, partner & head of Proskauer’s Washington office, said in a release.
1001 Pennsylvania Ave. is a 712,000-square-foot office building located between the Capitol and the White House. It features a limestone facade, rooftop terraces, first-class and casual dining, banking services and 43,029 square feet of retail space. CBRE represented Proskauer in the transaction. The building’s owner, TIAA-CREF, was represented by Hines.
The prestigious Albright Stonebridge Group has signed an 11-year lease for 32,000 square feet of space on the 10th floor of the 12-story Homer Building. The international strategic advisory and commercial diplomacy firm selected the property for its central location and attractive amenities.
“ASG looks forward to calling the Homer Building home. As a global firm headquartered in Washington, D.C., we could not imagine a better fit as we enter the next phase of our development and growth,” Michael Warren, managing principal, said in a release.
The 421,084-square-foot Homer Building was constructed in 1913 and is considered one of Washington’s top five commercial properties. Located just three blocks from the White House and the National Mall, this historic landmark is LEED Gold certified. It is also an EPA ENERGY STAR property, and has earned a BOMA 360 Performance Building designation.
Cushman & Wakefield Inc. represented the Albright Stonebridge Group in the transaction. Akridge represented Mitsui Fudosan America, the building’s majority owner.
Photo credit: www.hines.com