Deal Represents The Largest Lease Signed In The Washington, D.C. Market YTD
The U.S. General Services Administration (GSA), on behalf of the U.S. Department of Defense, signed a renewal to extend its lease at the Hoffman Tower II building in Alexandria, VA.
The renewal, signed for 606,575 square feet, is the largest lease signed in the Washington, D.C. market year-to-date and one of the top five lease deals signed in the region in the last five years.
Constructed at 200 Stovall St. within the Eisenhower Ave Corridor, Hoffman Tower II is part of the Hoffman Town Center, a 56-acre urban mixed-use development located in central Alexandria. Developed by The Hoffman Co., the 12-story office property is situated adjacent to the Eisenhower Avenue Metro Station and within three blocks of the U.S. Federal District Courthouse.
The Department of Defense has occupied space at the site for more than 30 years, modernizing the building over time with renovations that include energy efficient upgrades.
The deal follows the National Science Foundation's April acquisition
of a 2.03-acre site that will house the NSF's future 667,759-square-foot headquarters. The property is being developed as part of the Hoffman Town Center.
Additionally, the Class A Hoffman Tower I building recently underwent a multi-million dollar renovation to preserve the concrete structure while incorporating a brand new facade, renovated lobby, state-of-the-art HVAC system, fitness center and conference center.
"This state-of-the-art property is the newest product to come on line in Alexandria’s Carlyle area since the construction of 1701 Duke Street in 2010," said Brendan Owen, chairman of the asset services group for Newmark Grubb Knight Frank (NGKF).
Owen and Scott Johnston of NGKF brokered the lease deal on behalf of the owner, The Hoffman Co. Henry Chapman of CBRE represented the U.S. Department of Defense.