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The Children's Defense Fund is moving into a new home roughly a half-mile from the headquarters building it sold last year.
The nonprofit signed an 11-year, 22K SF lease earlier this year at 840 First St. NE in NoMa, according to a CDF financial disclosure.
The deal comes after CDF in June 2018 sold the building at 25 E St. NW, which served as its headquarters for at least 24 years. The company worked with Newmark Knight Frank on the sale and the search for a new home.
The lease for its new office begins Sept. 1, according to the disclosure. D.C. issued a building permit last week for interior renovations to the third floor space of the office building, and the permit listed CDF as the tenant.
CDF will pay a monthly rent of $87,523 with a 2.5% annual escalation, according to the disclosure. It also received a $1.8M tenant improvement allowance. The lease term ends Aug. 31, 2030, but CDF has an early termination option in 2026.
The building sits about two blocks north of Union Station's First Street entrance and less than a mile from the U.S. Capitol. The property last sold in 2011 for $90M to First Potomac Realty Trust. First Potomac was acquired in 2017 with Government Properties Income Trust, which then merged with Select Income REIT last year to form Office Properties Income Trust. The RMR Group manages the building's leasing.
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