Sol Systems Doubling Footprint With New Connecticut Avenue Lease
Solar finance and development firm Sol Systems signed an 11-year lease to occupy 11k SF of 1101 Connecticut Ave NW, Bisnow has learned.
The move represents a significant expansion for the company, which previously occupied 5,200 SF at 1718 Connecticut Ave NW. Sol Systems plans to relocate in March 2017.
“We were able to negotiate a very favorable rent with above-market concessions and flexibility on an early termination should their growth exceed expectations as had previously happened,” Wendy said in a release. “The space that they selected featured abundant natural light, which was a critical focus for the company.”
The 190k SF Class-A office building, located outside the Farragut North Metro station, is owned by NY-based Dune Real Estate Partners, which bought a 90% stake from Chevy Chase-based Federal Capital Partners in 2013. Penzance owns the remaining 10%.