Lerner and The Tower Companies Announce Mercer Lease Expansion at Washington Square
Washington, DC (June 9, 2016) — Lerner Enterprises, one of Washington, D.C.’s largest private real estate developers, and The Tower Companies, a Washington, D.C. based real estate developer and recognized sustainability leader, are pleased to announce that Mercer has expanded their lease by 5,644 square feet for a total of 62,104 square feet at Washington Square, the twelve-story, award-winning landmark office building located at 1050 Connecticut Avenue and L Street, NW.
“We are very pleased to expand our relationship with Mercer, a valued tenant in Washington Square,” stated Mark D. Lerner, a principal of Lerner, co-developer and co-owner of Washington Square. “With its timeless design, world-class amenities, and a central location in the heart of the nation’s capital just three blocks from the White House and the World Bank, Washington Square continues to maintain its position as one of Washington’s premier office properties,” he added.
Randy Harrell of CBRE represented Mercer in the transaction. Lerner and The Tower Companies were represented by Brian R. Raher, Brian F. Tucker and Michael B. Katcher of Cushman & Wakefield.
Trophy office space from 4,788 square feet up to 12,184 square feet is available for lease within this iconic LEED® Silver office building.
About Washington Square
Washington Square (WashingtonSquareDC.com), located at 1050 Connecticut Avenue, NW, in the heart of Washington, D.C.'s Central Business District, is a 1,000,000 square foot LEED® Silver office building. Washington Square's recent renovation included extensive exterior, lobby, atrium and building system upgrades. The building features premier office tenants such as the American Bar Association, Baker Hostetler, Gibson, Dunn & Crutcher, and premium retail choices including Morton's - The Steakhouse, Starbucks, Au Bon Pain, The Art of Shaving, Sarar, Lou Lou Boutique, and many others. The building is home to four luxurious Ultimate Suites, which provide potential tenants a turn-key flexible office with high-end finishes. The suites feature premium wood, stone and decorative accents and vary in size up to 7,300± square feet. The building is a co-development of Lerner and The Tower Companies, both of Rockville, Maryland. Lerner and Tower have collaborated on numerous landmark developments for over 40 years, including: Washington Square, White Flint, White Flint North, Beaumeade Corporate Park, Residence Inn – Dulles Airport @ Dulles 28 Centre, 2000 Tower Oaks Boulevard, Dulles 28 Centre, and numerous other projects in the Washington, D.C. area.
Founded by Theodore N. Lerner in 1952, Lerner Enterprises is a respected leader in Washington, D.C. area real estate development, investment and management. Headquartered in Rockville, Maryland, Lerner is one of the largest and most diversified private real estate companies in the region, with expertise in all phases of commercial real estate – including planning, development, construction, leasing, asset management and property management. Lerner has developed and managed more than 20 million square feet of commercial, retail, hospitality and residential real estate throughout the Washington metropolitan area. The award-winning office portfolio features such iconic properties as Washington Square, 20 M Street SE, Two White Flint North, The Corporate Office Park at Dulles Town Center and The Corporate Office Centre at Tysons II, among many others.
The company is also a pioneer in sustainable development, with a notable LEED® Certified portfolio that includes Washington Square (LEED® Silver Certification), 20 M Street (LEED® Gold Certification), 2000 Tower Oaks Boulevard (Lerner’s Corporate Headquarters and the first LEED® Platinum office building in the entire Mid-Atlantic Region), and 1775 Tysons Boulevard (the first office building designed to achieve LEED® Platinum Certification in the Tysons market).
For more information, visit Lerner.com or follow Lerner on Twitter @LernerDC.
About The Tower Companies
For three generations, the family-owned Tower Companies has maintained a commitment to responsible development and continues to envision a world where buildings inspire and enrich the lives of their occupants and create positive social change. The sustainable building leader owns, develops, and manages over 5 million square feet in the Washington, D.C. metropolitan area consisting of office buildings, office parks, lifestyle centers, regional malls, eco-progressive live-work-play communities and hotels, with an additional 8 million square feet in the development pipeline. In 2004, The Tower Companies was the first, in the United States, to LEED® certified a multi-family community, and since then, 95% of commercial and multi-family residential properties are LEED® certified and 85% are ENERGY STAR® certified. In addition, Tower publically reports GHG emissions to The Climate Registry and offsets 100% by purchasing renewable energy and carbon credits. Looking to the future, through a partnership with the Department of Energy, The Tower Companies has pledged to reduce energy and water consumption by 20% by 2020. The Tower Companies has been acknowledged as an international authority in the industry, and has been recognized for its commitment to sustainability and energy independence by numerous national organizations and federal agencies, including US Green Building Council, US Department of Energy (DOE) and the US Environmental Protection Agency and more.
For more information, visit TowerCompanies.com.
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s 20,000 employees are based in more than 43 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting.
For more information, visit Mercer.com.
Eugene Buot | 301.692.2253 | EBuot@Lerner.com
Brian F. Tucker | 703.847.2757 | Brian.Tucker@cushwake.com