Insight

Cresa DC Represents American Wind Energy Association in Office Lease Renegotiation of Headquarters in East End, Washington, DC

February 7, 2017

Cresa Washington DC recently represented the American Wind Energy Association (AWEA) in an early lease renegotiation on the ninth floor of 1501 M Street, NW in downtown Washington.  This Class A building serves as the headquarters for AWEA, the leading national trade association representing the interests of the wind energy industry.  Cresa is the world’s largest corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of integrated corporate services.

Cresa’s Mindy Saffer, LEED AP and Managing Principal, and Joshua Freedenberg, Vice President, represented AWEA in the transaction. The landlord, J.P. Morgan Investment Management, Inc., was represented by Kevin Howard and Joe Coleman of CBRE.

According to Saffer, by improving the organization’s space efficiencies and taking advantage of favorable market conditions, AWEA significantly reduced real estate costs two years prior to the natural lease expiration.  In addition to AWEA’s upcoming renovations to the premises, slated for completion in July 2017, the landlord has agreed to install a secure bike area in the parking garage as well as a tenant lounge in the building’s lobby. 

Cresa has area offices in the District of Columbia; Baltimore, MD; Bethesda, MD; and McLean, VA.