Washington, D.C.
Leading Manufacturer of Workplace Furnishings and Architectural Products Inks 7,200+ SF Office Lease at 1050 17th Street in Washington, DC
CBRE Reps Ownership, Hines, in Long-Term Lease Transaction
August 14, 2024
Media Contact
Corporate Communications, Midwest
The CBRE team of Randy Harrell, Lara Nealon, Joe Coleman, and Brittany Gosnell spearhead the leasing campaign at 1050 17th Street and represented Hines in the negotiations.
“1050 17th Street is one of the market’s best office addresses and is setting the standard for modern workspaces,” said Harrell. “The building’s ideal location in the heart of the city, elegant design, premium air quality, sustainability, and adaptive floor plates provide the environment today’s tenants are looking for.”
Ideally located at the epicenter of Washington, DC, 1050 17th Street is an 11-story, 154,000 sq.-ft. property that offers office space specifically built for productive collaboration and professional performance. With destination dispatch elevators and gender-neutral restrooms on every floor, each detail is appointed with a diverse, productive workforce in mind. Other tenants at the building include Davis Polk and Dweck Properties.
The UL-verified, Fitwell and LEED Gold certified property boasts a dedicated outdoor air system with triple-scrubbed Merv-13 filtration and 100% air-exchange every 55 minutes, and features touchless Bluetooth-enabled elevators, 11-foot floor-to-floor curtainwall glazing and 9-foot finished ceilings. The property also has a state-of-the-art fitness center, 100-person multipurpose conference center and lounge on the second floor.
Tucker Farman of JLL represented Allsteel in the lease transaction.
According to a recent CBRE report, trophy office space continues to outperform the market in Washington, D.C., with just 12.6% available as of Q2 2024.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. Hines manages $94.6B in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Hines’ local teams serve 790 properties totaling nearly 269 million square feet globally. Hines is committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.”
About Allsteel
Since 1912, Allsteel, an HNI Company, has offered a world-class, comprehensive range of workplace products and solutions. We simplify the office planning process by helping our customers align their workplace strategy with their business strategy. The result is fit-to-business solutions that deliver meaningful change in a way that works for them today, as well as tomorrow. Allsteel has showrooms in Boston, Chicago, Los Angeles, New York, and San Francisco. For additional information, visit www.allsteeloffice.com or follow Allsteel on Facebook, LinkedIn, Instagram, Pinterest and YouTube.