New Boston
Fund, Inc., a private equity real estate investment, development and management
firm, and J Street Companies, announced today that it has leased 8,980 square
feet of Class-A office space to the National Association for State Community
Services Programs (NASCSP) at 111 K Street NE in Washington, D.C.
111 K Street NE is an 11-story,
90,000-square-foot Class-A office building located just north of Capitol Hill
in the NoMa submarket of downtown Washington, D.C., a rapidly growing area
consisting of 31 city blocks of office space, residential developments, hotels
and retail amenities. It is also just a five-minute walk from Union Station, a
major transportation hub in the metropolitan area.
“The quality space, views and amenities at 111 K
Street NE are typically only available to much larger tenants in the District,”
said David Langol, Vice President of Asset Management for New Boston Fund. “We
are very excited to welcome NASCP and be able to provide them with some of
D.C.’s most premiere office space.”
The trophy-quality building was developed as an
office condominium and features nine-foot ceilings, locker rooms and shower
facilities, shared conference facilities, reserved underground parking and
views of the U.S. Capitol. The property is virtually brand new, and is the only
small floor plate boutique Class-A office building in its direct 10.5
million-square-foot submarket.
J Street Senior Vice President, Andy Wolf,
commented, “We are pleased to have NASCSP join non-profits American Bus
Association and NASPA at 111 K Street. The NASCSP lease is part of a growing
trend of private sector and non-profit groups moving to NoMa, with its 24/7
mixed-use emphasis, from other DC submarkets."
The all glass structures allows each floor of the
building to provide unobstructed, 360 degree window lines and the building’s landscaped
rooftop terrace offers panoramic views of the city including the U.S. Capitol
Building. The building was built to LEED standards with green features that
include a storm water management plan to reduce runoff, a green roof, water
conserving plumbing features and recycled building materials.
In this transaction, New Boston Fund was
represented by Geoff Kieffer, Andy Wolf and Shea Byers of J Street while NASCSP
was represented by Michael Goldman and Brian Pashkoff of MGA, Inc. MGA Inc. is
a full service tenant consulting firm providing advisory services to all types
of users of real estate throughout the nation.
New Boston Fund does not disclose leasing or sale prices.
About New Boston FundNew Boston is an independent, privately owned
real estate investment manager and an industry leader in providing real estate
investment, development and management services with a history of strong
sponsorship and oversight of its investment funds. New Boston has developed or
acquired commercial and residential properties with a cumulative market value
of about $3.5 billion, including 23 million square feet of commercial real
estate and 7,500 residential units. Our investment vehicles cater to
institutional and high-net worth investors by offering value-add and urban real
estate investment funds with a focus on diversification and capital
preservation. The New Boston Fund:
People, Values, Returns. www.newbostonfund.com
About The J Street Companies
The J Street Companies offers a complete array of real estate services, from commercial sales and leasing (including land and retail brokerage services) to property management, development and project management. J Street manages approximately 2 million square feet of commercial and multi-family property and has an experienced project management team that has managed over 8 million square feet of tenant build outs and base building construction. Since 2000, the company has accomplished more than 500 leasing and investment sales transactions with an aggregate value of more than $1 billion. For more information on the J Street Companies, please visit us at www.jstreetcompanies.com.