U.S. Department of Justice, Attorneys Headquarters
Washington , DC
Once Tishman Speyer became the contract purchaser of the asset, the FD Stonewater leasing team was tasked by ownership with filling over 500,000 SF of vacancy in 601 D Street, NW. By the time the acquisition closed, FD Stonewater had leased 40% of the building to the District of Columbia’s Office of the Attorney General and, less than three months later, the remaining 60% to the GSA for the U.S. Attorneys Headquarters. The FD Stonewater leasing strategy and execution virtually eliminated all downtime for the project, reduced the risk associated with a potential private sector leasing strategy, significantly reduced ownership’s up-front renovation budget, and secured high credit, long-term tenants which dramatically increased asset value. This leasing effort was incredibly complex due to the competitive nature of each procurement, the involvement of multiple political players, and the fact that two large programs had to be maneuvered (simultaneously) to fit perfectly into effectively 100% of the building.