NAPA Inks 21K SF Lease in East End

WASHINGTON, DC-The National Academy of Public Administration has inked a 21,000-sf lease at a class A office building in DC’s East End. The building, located at 900 Seventh St., NW, was built in 2004 by the International Brotherhood of Electrical Workers to be its headquarters. The asking rate for the space was marketed at $48.50 to $49.75 per sf, according to local comps. That number is slightly higher than the average $47 per sf for a class A building in the East End.

The association’s 15-year lease of the sixth floor brings the 350,900-sf building to 100% occupancy. Craig Lussi, Michael Hammond and Stephen Burman with Studley represented the Academy and negotiated for its control of the space for the next 25 years, three different expansion options throughout the term of the lease and the assumption of the remaining term on the existing lease, according to a statement made by Howard Messner, president and CEO of the academy.

The academy will occupy the building in April 2007. The move is part of a consolidation of space the non-profit is currently leasing in two buildings in the East End: 1100 New York Ave., N.W. and 1100 H St., N.W.