Corporate Managing Director, Savills Studley
DC/MD/VA Licensed Real Estate Salesperson
Headquartered in NYC, creative co-working company The Yard has continued its national expansion into our very own Nation’s Capital by announcing this week it has committed to lease 31,000 SF at the former Hines School development site in Capitol Hill. The Yard, who currently have 7 offices throughout New York and Philadelphia (with several slated to open up shortly), has been evaluating the DC market for quite some time, waiting for the perfect location to lay its roots.
The Yard is among the pioneering group of creative office users that are pushing the boundaries outside of DC’s traditional core and into fringe markets that are on the rise. The former Hines School, now renamed 700 Penn, is the largest development of its kind in Capitol Hill. Directly adjacent to the vibrant Eastern Market, the mixed-use development features 155,000 SF of office space, 60,000 SF of retail and 220,000 SF of multi-family units. The development is scheduled to be completed by fall of 2017.
The amenities at 700 Penn will include a rooftop terrace with a conference center and views of the US Capitol, an interior courtyard, fitness center, underground parking and a brand-new 11,000 SF Trader Joe’s. Tenants will also enjoy the charming boutique shops that make Eastern Market so unique, along with the endless dining options along Barracks Row directly to the south.
Getting to 700 Penn is a breeze, with the Eastern Market Metro Station just one block away, and two 395 ramps within a 3-minute drive. There are also several parks within walking distance if you need to clear your head or want to enjoy an outdoor lunch.
Savills Studley, including the two founding members of TechOfficeSpaces.com , Evan Margolin and Lance Leighton, had the pleasure of representing The Yard in this transaction and believe they uncovered a real gem. To join them at 700 Penn, or to evaluate other options nearby, please don’t hesitate to contact us by filling out our Office Search Search Form.
How long does it take to lease commercial real estate in New York City? The TechOfficeSpaces.com Team is often asked how long it takes to move into new office space…
2017 was a solid year for New York City commercial office leasing. Though the crystal ball for the future of Manhattan’s office market is a bit cloudy at the moment,…
3,000 SF Sublease with Term Through June 2020 Perfect for Tech/Start-Up Companies A large portion of the spaces featured here on the Washington, DC page of TechOfficeSpaces.com have been designed by Wingate…