Covington & Burling to Sublease Penn Ave Space
Studley's Tom Fulcher tells us he and colleagues Art Greenberg and Adam Brecher have been tapped to sublease Covington & Burling's soon-to-be-vacated 390k SF at both 1201 and 1275 Pennsylvania. Tom says the space, which Covington will make available once it leaves for CityCenter in summer 2014, is renting for $29/SF full-service, a bargain for properties that are well-located and have great views (that's the look from the 1201 balcony, above).
We snapped Tom and Art bookending colleague David Lipson and Arent Fox's Jeremy Fox Tuesday night at a tour of Arent Fox's 1000 Connecticut space (Tom, Art, and David repped Arent Fox in that deal). Tom says the 7th and 8th floors of 1275 Penn are available now, while the rest of the space at both buildings becomes available June 1 next year. (By then, your view might include a big T-R-U-M-P.)