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New Capitol Hill Office Building Reaches 90% Filled With New Leases

The 700 Penn office building and the Residences at Eastern Market, photographed in 2017

The redevelopment of Capitol Hill's Hine School took more than a decade to get through planning and construction, and now its office, residential and retail spaces are nearly filled two years after delivery. 

Developer Eastbanc has signed three new leases to bring the 700 Penn office building to 90% leased, it announced Thursday.

Eastbanc, which partnered with Stanton Development on the project, signed Gilbert LLP for 20K SF, Ferrero Rocher for 3K SF and American Math Society for 2,500 SF. JLL's Doug Mueller and Evan Behr represented the development team in the deals. 

The new tenants will join Akin Gump, Sanford Heisler Sharp LLC and coworking space The Yard in the project. The 150K SF office building has 24K SF remaining. 

The development's adjacent 128-unit apartment building, Residences at Eastern Market, has reached 94% leased.

The project also has just one available retail space remaining. Trader Joe's anchors the development's retail and has been joined by Sephora, JRINK, District Veterinary Hospital, Orangetheory Fitness and a Chase bank.

“With 700 Penn, our goal has been to enhance D.C.’s iconic Eastern Market neighborhood by bringing modern, unmatched residential offerings as well as transformative yet complementary retail and businesses to the historically federal area," Eastbanc principal Philippe Lanier said in a release.