Last night, we dropped by L2 Lounge in Georgetown as EastBanc clued in brokers on the redevelopment of its 1800 Eye Street project downtown. EastBanc founder Anthony Lanier (with Colliers' Fern Baruetta) tells us the firm will completely renovate the interior of the 30k SF property while maintaining the historic nature of the exterior. (We're pretty sure this is the exact opposite of plastic surgery.) He adds EastBanc prefers a single tenant for the property but would be open to a multi-tenant approach. The space would be ideal for private wealth managers or even a real estate company. If only Anthony knew of any.
Union Realty Partners' Steve Muller, who's assisting EastBanc in the redevelopment, says a "glass box" penthouse will be installed on top of the property (which we snapped this morning). Work likely won't begin until a major lease commitment is secured, Steve adds, and that the redevelopment would likely take about 24 months.
Colliers' Roger Carlson and Tim Hague are handling leasing at 1800 Eye; Roger for the two floors and 4,400 SF of retail and Tim for the office portion. Tim tells us prospects will enjoy the natural light (windows cover 75% of the building) and historic bones.
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