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Spaces Commits to Top Three Floors of Newly Renovated Office Building in Downtown D.C.

Co-working Company Agrees to 49,400-SF Lease at 1441 L St. NW, Will Open Fifth D.C.-Area Location Following Renovation Completion in November
August 3, 2018
Spaces has signed a long-term lease for 49,400 square feet in the office building at 1441 L St. NW in downtown Washington, D.C.

The creative workspace provider will occupy the top three floors of the 13-story building, which is currently undergoing an extensive renovation due to be completed in November of this year. The company is the first tenant to sign on to the project.

The building at 1441 L St. had been constructed in 1967, but as the office market in downtown D.C. has evolved, owner S.C. Herman & Associates decided that a renovation would make the building more competitive in the market.

Nathan Beach, senior vice president with Jones Lang LaSalle and a member of the team that represented the owner, said the renovation fills a need for quality office space that is still well priced. "It's a very unique position in the market. We're not a [Class] B building, but we're not trying to trick the market and say we're a super trophy. We're well-positioned from a price standpoint."

The renovation, which is being overseen by DEP Designs, is going to include an all-glass floor-to-ceiling façade, an HVAC system that allows for individual control, a two-story fitness center, top-floor penthouse, a rooftop lounge and an outdoor terrace. The property was formerly home to the Bureau of Economic Analysis.

The location will mark the fifth office in the Washington, D.C. area for Spaces, which also operates locations at The Artisphere in Arlington, VA; Chase Tower in downtown Chevy Chase, MD; 1140 3rd St. NE in D.C.'s NoMa area; and 2000 Duke in Old Town Alexandria, where the company signed a 34,007-square-foot lease in April.

Beach, along with Seth Bernhard, Evan Behr, Doug Mueller, Kristen Mathis, Thomas Meyers and Mac Hall of JLL, are the exclusive leasing agents on the property. Kevin Brant, also of JLL, brokered the lease for Spaces.
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