SpaceX Inks Office Lease Downtown: The D.C. Deal Sheet
The aerospace giant owned by billionaire former Trump administration adviser Elon Musk has expanded its downtown D.C. office space less than a mile from the White House.
Space Exploration Technologies Corp., or SpaceX, signed a 24,100 SF lease at Douglas Development’s 1155 F St. NW.
The renewal and expansion deal was revealed in Lincoln Property Co.’s third-quarter report as the city’s sixth-largest lease of the quarter.
The report didn't say how much space SpaceX previously occupied, and it doesn't appear to have been previously reported that SpaceX has an office at 1155 F St. NW.
The 254K SF property is an assemblage of three historic buildings along with a 12-story office tower that was built in 2009. It includes 35K SF of retail, according to Douglas' website.
SpaceX and Douglas Development didn't respond to requests for comment. Cushman & Wakefield’s Bruce Pascal and Mark Wooters, who represented the landlord, declined to comment.
LEASES
Trade association NCTA has renewed its 53K SF lease at 25 Massachusetts Ave. NW, according to Newmark, which represented the landlord. The association, which has been at the 350K SF East End property for nearly two decades, is retaining its first- and second-floor footprint. Owner Norges Bank Investment Management recently completed a renovation of the property, making enhancements to its entryway and delivering a new lobby, tenant lounge and 127-person conference center, according to Newmark.
Newmark’s Doug Mueller, Edwin Clark and Blaire McGavin lease the building, which has 35K SF of availability left. Its tenants include Google, General Motors and American Iron and Steel Institute.
SALES
Dallas-based Velocis sold a 175K SF office building on Rosslyn’s Wilson Boulevard for $28M, the Washington Business Journal reported. The 10-story property at 1530 Wilson Blvd. was acquired by two LLCs, both managed by Douglas Development Corp. Managing Principal Matthew Jemal. The property is 78% leased. Cushman & Wakefield’s Shaun Collins and Drew Flood represented the seller.
FINANCING
A partnership building a 137-unit affordable senior housing development in Hyattsville secured $40.5M of debt and equity for construction. Community Housing Initiative is partnering with First Baptist Church of Highland Park on the project. Walker & Dunlop's P.J. McDevitt and Macy Kisilinsky worked on the deal. The property will be reserved for residents aged 62 and older, and the vast majority of the units will be for residents making up to 60% of the area median income.
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Sentinel Real Estate Corp. secured a $67.5M loan through Fannie Mae to refinance Rockwell at Crown, a 335-unit apartment community in Gaithersburg. Newmark's Jim Badolato, Rob Cantazano, Greg Primiano, Deric Obeldobel and Elias Sulpizio worked on the deal. The project delivered in 2022.
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Acore Capital announced on LinkedIn it has closed on a $112M loan to refinance The Florian, a 388-unit apartment building in NoMa. Florida-based Aria Development Group delivered the property at the end of last year. It sits near Truxton Circle on the site of a demolished Exxon station. Aria Development CEO Joshua Benaim told Bisnow in January that the building's design was inspired by an Italian palace.
