The Ezra Company Negotiates for Two Clients Relocating to New Locations in Washington, D.C.
November 29, 2011 (Washington, D.C.) – The Ezra Company, one of the leading commercial real estate firms in the nation that exclusively represents tenants, announces today that it has negotiated new leases on behalf of the American Meteorological Society (AMS) and Compass Solutions, which are both currently housed at 1120 G St. NW but in the near future will move to new Washington, D.C. offices.
In these transactions, which total nearly 12,000 square feet, Ezra Company Principal/Executive Vice President Gene Martin and Damon Rothman, a Senior Vice President with the D.C.-based Ezra Company, represented AMS and Compass Solutions.
Next spring, AMS will relocate to a building for which it is already familiar. This organization has signed a long-term lease for 10,122 square feet of space on the fourth and fifth floors at 1200 New York Ave. NW.
Prior to the start of its existing lease on G Street, AMS actually occupied space at 1200 New York Ave. NW, which is a 201,085-square-foot building owned by the American Association for the Advancement of Science (AAAS).
AMS Executive Director Keith Seitter says that his organization’s present lease on G Street recently expired, but the new space on New York Avenue isn’t yet available, so Martin and Rothman negotiated a lease extension at 1120 G St. NW until the office at 1200 New York Ave. NW is ready.
“Without the expertise of Damon and Gene, we wouldn’t have received the solution we ultimately obtained,” Seitter says. “They worked to get us a really good rental rate, and I have great confidence that Damon and Gene provided us with strong advice.”
Seitter notes that 1200 New York Ave. NW is the building that AMS clearly preferred as it considered various alternatives for its new D.C. office. However, unless the organization secured a lease extension at 1120 G St. NW, it would have had no choice but to select a less desirable location for its future home.
“The new space has top-notch meeting facilities and is close to Metro Center, as is our existing office, making it convenient for our local work force of about 15 people,” Seitter says. “Much of our Washington-based staff frequently deals with federal government agencies in the area. Plus, AAAS is a partner in some AMS initiatives.”
While its current lease on G Street is roughly 12,000 square feet, AMS itself has only taken about 8,000 square feet and subleased the remaining space to Compass Solutions and a second organization. Therefore, the new lease at 1200 New York Ave. NW is an expansion for AMS, based on the amount of space that it will occupy there.
“We are getting tight with our existing space, so the new office gives us ample room to grow, which is important because some of our programs are expanding,” Seitter says.
Rothman says that construction on the new AMS space is slated to begin in mid-December and, from that point, will likely wrap up in three months. At that pace, AMS should move into its new D.C. office in March.
“Since the American Meteorological Society used to reside at 1200 New York Ave. NW, they have a comfort with the building,” Rothman says. “They like the location, and they also appreciate that the landlord of their future space is a like-minded non-profit organization. We’re pleased to have negotiated an attractive deal for our client.”
Founded in 1919, the Boston-based AMS has more than 13,000 member and is the nation’s leading professional society for those involved in the atmospheric and related sciences.
Separately, information-technology firm Compass Solutions inked a 1,587-square-foot lease that runs for 10 years and four months at 1401 K St. NW.
Compass Solutions CEO Anthony Onyewuchi says that Martin and Rothman kept him informed every step of the way, making “what I understand is a painful process easy and fun” while ensuring that Onyewuchi’s company received the best deal possible. “They did an outstanding job of representing us,” he says.
In operation since 2003, Compass Solutions’ customer base includes federal, state and local governments; health insurers; media and entertainment firms; and telecommunications service providers.
About The Ezra Company:
Founded more than 30 years ago, The Ezra Company is the oldest and largest Washington, D.C.-based commercial real estate advisory services firm dedicated solely to representing tenants. Consistently ranked amongst the mid-Atlantic’s top firms, the passionate team of dedicated, experienced Ezra professionals provides clients with conflict-free representation and an unmatched scope of services. With three offices in the Washington, D.C. area, The Ezra Company offers local expertise and a national reach. For more information, please call 202-789-1300 or visit www.ezracompany.com.
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