FAA and DDOT Sign Major Office Leases at 55 M Street in Washington, D.C.
February 17, 2011
With the signing of two major leases during the fourth quarter of 2010, 55 M Street – a nine-story office building in the emerging Capitol Riverfront neighborhood of Washington, D.C. – is now 85 percent leased.
The building’s new tenants are the Federal Aviation Administration (FAA), which is leasing 50,000 square feet of office space, and the District of Columbia Department of Transportation (DDOT), which is leasing 150,000 square feet of space. Both tenants plan to occupy the building within the coming months.
With 279,000 square feet of office space and 14,000 square feet of retail space, 55 M Street was built directly above the Navy Yard Metro station, which provides light-rail access to points throughout the Washington, D.C., metropolitan area. It is located one block north of Nationals Park in the District’s emerging Capitol Riverfront neighborhood.
MacFarlane Partners has invested in the development of 55 M Street through a joint venture with Monument Realty, a full-service real estate firm based in Washington, D.C. MacFarlane Partners made the investment on behalf of MacFarlane Urban Real Estate Fund II, its institutional real estate fund that invests in development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide.
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