The U.S. Department of State is renewing its existing lease for the entire 1701 North Fort Myer Drive building as well as expanding into the remaining vacancy of 1200 Wilson Boulevard for another 15 years beyond the State Department’s previously scheduled lease expiration in 2019. Both premier office buildings are owned and operated by Monday Properties in Rosslyn, Virginia.
As part of the renewal, 1701 North Fort Myer Drive and 1200 Wilson Boulevard will be combined into a cohesive “single facility campus,” including a secured above grade connector between the two building lobbies. The modernized facilities in both projects will include an intricate, multi-year phased renovation program at 1701 North Fort Myer Drive. As a result of this transaction, both properties are now fully leased.
Tim Helmig, Managing Partner of Monday Properties, said, “We are proud that the State Department will remain a tenant of Monday Properties, and look forward to working together on the expansion that will consolidate these two buildings with a modern solution. Our significant investment into the single facility campus will upgrade the property to the latest government efficiency standards.”
Austin Freeman, Senior Vice President of Asset Management at Monday Properties said, “We’re looking forward to our continued partnership with the State Department. The 15-year renewal exemplifies how important Rosslyn’s proximity to D.C. and government agencies is for both private and public sector tenants. The renewal allows the Government user groups to build upon the already significant core infrastructure investment in the facility.”
Including this State Department transaction, Monday Properties has transacted on over 1.1 million square feet of leasing activity over the past 18 months as more corporations of all sizes see the value in Rosslyn’s convenient location.
The brokers: The Landlord was represented by Monday Properties Tim Helmig and John Wharton as well as Joe Delogu and Chad Habeeb at FD Stonewater. Santoni Graham and Gary Arabak of the GSA as well as the CBRE, Inc. team led by Henry Chapman and Sara Dunstan represented the Government in this transaction.
About Monday Properties: Monday Properties is a dynamic real estate investment firm that operates each property within its portfolio. Founded in 1998, the company is an owner, operator and developer of real estate with a primary focus on supplied constrained markets and value add real estate opportunities in growth markets. Since 2002, Monday Properties has completed over $13 billion in over 60 separate transactions, representing 28 million square feet. Monday Properties co-invests its own capital alongside its partners and investors, creating a clear alignment of interest and an incentive to realize value.