New Ownership of 2101 L St NW Executes 67,710 Square Foot Lease Within One Month of Building Acquisition

Following the recent acquisition of 2101 L St NW by a joint-venture of BG Ventures and ELV Associates, the new ownership executed a 67,710 square foot lease with Page Southerland Page, a full-service design, architecture and engineering firm.

2101 L St NW, is a 384,000 square foot Class A+ office building located in Washington, DC’s Central Business District (CBD). The property benefits from a convenient and accessible location and boasts floor-to-ceiling glass windows, exceptional setbacks throughout the floorplate and a recently renovated amenity offering including a private courtyard, rooftop terrace, conference and lounge space and state-of-the-art fitness center. The new ownership intends on further enhancing the tenant experience at the building.

CBRE’s Carroll Cavanagh, Emily Eppolito, and Dimitri Hajimihalis represented the ownership in the transaction. Page was represented by Newmark’s Mike Shuler and Nick Fields.

“We are delighted by the immediate leasing activity and are very pleased to welcome Page Southerland Page to 2101 L Street.” said BG Ventures’ Neal Gumbin.

“We are thrilled to be moving our headquarters to 2101 L St NW and to consolidate our D.C. offices.

The 2101 L team was a pleasure to work with and, together with Newmark, built a creative and compelling deal,” said Thomas McCarthy, CEO of Page Southerland Page.

“This significant lease transaction was executed nearly simultaneously with acquisition of 2101 L by the new ownership group, emphasizing the importance of well- positioned and well-capitalized assets in our market. Credit a creative ownership group for navigating a complicated acquisition and lease transaction and a tenant with a vision for the opportunity in the space and building,” said CBRE’s Carroll Cavanagh. “While office vacancy remains elevated, we see strong demand and a scarcity of availability within the top tier of the D.C. office market.”

According to a recent CBRE report, the Washington, D.C. office market absorbed 307,220 square feet of Class A+ Office space in 2024, outpacing all other building classes.