Solar finance and development firm Sol Systems signed an 11-year lease to occupy 11k SF of 1101 Connecticut Ave NW, Bisnow has learned.
The move represents a significant expansion for the company, which previously occupied 5,200 SF at 1718 Connecticut Ave NW. Sol Systems plans to relocate in March 2017.
The deal was brokered by Savills Studley's Wendy Feldman Block, who earlier this month won the top honor at CREW DC's annual awards ceremony.
“We were able to negotiate a very favorable rent with above-market concessions and flexibility on an early termination should their growth exceed expectations as had previously happened,” Wendy said in a release. “The space that they selected featured abundant natural light, which was a critical focus for the company.”
The 190k SF Class-A office building, located outside the Farragut North Metro station, is owned by NY-based Dune Real Estate Partners, which bought a 90% stake from Chevy Chase-based Federal Capital Partners in 2013. Penzance owns the remaining 10%.
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