Skanska Lands Second Office Tenant At 99 M Spec Project
The developer has just signed 99 M's second tenant, Credit Union National Association, to a 22K SF space on the building's third floor. Lincoln Property represented the landlord, and Cresa brokered the deal on behalf of the tenant.
CUNA will move into the 11-story, 234K SF office building on the corner of First and M streets SE next spring. The trade organization representing credit unions will move from its 29K SF office at 601 Pennsylvania Ave. NW, a Ruben Cos.-owned building that the landlord has retained Cushman & Wakefield to market for sale.
It will join Pyxera Global, which signed on for 17K SF on the fourth floor. Skanska has also landed two restaurant tenants, Circa and Open Road, for the ground-floor retail space.
Skanska has now leased about 18% of 99 M's office space as it secures smaller leases rather than waiting for a major anchor tenant, the strategy most often used by spec office developers.