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D.C.-based WashREIT is looking to capitalize on the flexible office space trend to help lease up space at its newly acquired Arlington Tower.
The landlord Wednesday introduced its Space+ concept on the eighth floor of Arlington Tower, a 19-story office building at 1200 North 17th St. in Rosslyn.
The coworking-style Space+ concept allows companies to move in quickly and lease for as short as one-month terms. It features shared lounge areas, conference rooms and booth seating.
Companies can lease between 1,500 SF and 10K SF spaces on the 22K SF eighth floor at Arlington Tower. A 5,363 SF space is listed on Liquidspace for $26,800/month.
WashREIT acquired the 398K SF office tower from Tishman Speyer earlier this year for $250M. The property was built in 1980 and recently underwent a $16M renovation. The landlord plans to roll out the flexible office concept on a second floor of the building in the coming months.
The REIT became the latest office landlord to jump into the shared workspace trend when it launched the Space+ program in July. It now has 32 spaces totaling 118K SF across 12 buildings. It plans to introduce another 40K SF across 15 buildings over the next six months, including the additional Arlington tower floor.
“We took a unique approach to the common area at Space+ Arlington Tower," WashREIT Vice President of Asset Management Anthony Chang said in a release. "Being on a podium, we have great views on much lower floors than other surrounding buildings. Our eighth floor suites have clear views of the monuments and the Potomac. We chose to democratize these views and build the shared space around it."
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