Carlyle Consolidating D.C. HQ With 200K SF Downtown Expansion Deal
One of the world's largest private equity firms is growing its District headquarters, in the process shedding its satellite office in Rosslyn.
The Carlyle Group, founded by philanthropist extraordinaire David Rubenstein, William E. Conway Jr. and Daniel D'Aniello, has signed a deal to expand its headquarters at 1001 Pennsylvania Ave. NW by 70K SF. Carlyle will grow its footprint to 200K SF across the second through fifth floors of the TH Real Estate-owned office building.
Carlyle currently houses more than 300 employees at its Rosslyn office at 1300 Wilson Blvd., but those workers will move into the redesigned space on Pennsylvania Avenue as part of the new 11-year lease. TH Real Estate plans to update the building's lobby and retail space as part of a larger renovation that includes modernizing all four of Carlyle's office floors, the Washington Business Journal reports.
JLL's tenant representation team of Greg Lubar and Steve Spartin represented Carlyle, while Cushman & Wakefield's Bobby Schwartz, James Collins, Richard Tonner and Phil Dickinson represented TH Real Estate.
The consolidation is a win for the District and a loss for Rosslyn, which had been on one of the area's major winning streaks after securing new offices for Nestlé, the Grocery Manufacturers' Association and Cerner Corp.