Washington REIT has received several inquiries on The Advisory Board Co's 290k SF West End office space at 2445 M St NW.
The Advisory Board recently announced it would be relocating once its lease expires on May 31, 2019, to a new development in Mount Vernon Square. CEO Paul McDermott touched on the decision and the status of other properties in the REIT’s portfolio in a Q3 earnings call, according to GlobeSt. "We have already received inbound inquiries from tenant representatives," McDermott said. The REIT is also in active discussions for a number of its signature properties, including 1775 Eye St NW, for which it is in final negotiations for two leases to bring it to 97% occupancy.
The Advisory Board’s new digs will be in a new development from the Jemal family at 655 New York Ave NW. The ABC will occupy about 500k SF of the planned 756k SF mixed-use building. [GS]
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