Renovations Bring Big Leases for Lerner, Tower, Beacon
Renovations just paid off for two big properties in DC and Tysons. First up: Lerner and the Tower Companies announced yesterday they've signed law firm Manatt, Phelps, & Phillips to a 38k SF lease at Washington Square at Connecticut and L downtown. Cushman & Wakefield's Brian Tucker, who repped the owners (with colleague Brian Raher), tells us the deal marks 140k SF in new deals at Washington Square in just over a year, after Lerner and Tower embarked on a major renovation of the 1980s vintage building. The American Bar Association and Mercer also signed recently. JLL's Creighton Armstrong, Elizabeth Cooper, and Steve Spartan Jr. repped Manatt.
In Tysons, the long-rumored move of Alarm.com's HQ to Beacon Capital Partners' Tysons Metro Center III is official. The firm signed for just under 83k SF, moving from Vienna. Beacon just finished big common area improvements at the property. Cassidy's Spencer Stouffer, Tim Summers, Todd Brinkman, Scott Goldberg, and Shaun Collins repped Beacon, while DTZ's Bill Evans (with his kids on the first day of school a few weeks back) repped the tenant. (If there's an Ocean's 14, it should be about trying to get into the Alarm.com building.)