Washington, D.C. – January 24, 2019 – Normandy Real Estate Partners, a leading real estate operator and fund manager, today announced significant leasing activity at 950 L’Enfant Plaza SW in Washington, D.C., just five months after acquiring the building. The Federal Aviation Administration (FAA) signed a 99,585 square foot renewal and the Department of Homeland Security renewed their lease for 41,697 square feet, for total leasing volume of 141,282 square feet and representing approximately half of the property.
“The tenants’ re-commitment to 950 L’Enfant Plaza shows the attractiveness of this property, which is directly connected to the L’Enfant Plaza Metro station,” said Paul Teti, Partner, Normandy Real Estate Partners. “The area is becoming even more desirable with the opening of the District Wharf which is a three-minute walk from the property and the upcoming delivery of the new International Spy Museum. We are excited to continue this momentum through the remainder of the year and beyond.”
Approximately 39,000 square feet remains available at 950 L’Enfant Plaza on the Promenade and Plaza levels. The I.M. Pei designed building benefits from unobstructed views to the south that will be forever protected by Benjamin Banneker Park, a national memorial park, which is located directly south of the property.
Merrill Turnbull, Jae Lee, Adam Biberaj, and Robert Hines of Lincoln Property Company are the leasing brokers for the property.
Normandy Real Estate Partners’ growing portfolio in the D.C. Metro market encompasses 2.9 million square feet of office properties, which include 950 L’Enfant Plaza SW, the National Press Building (529 14th Street NW), 1015 18th Street NW, Coppermine Commons (13861 & 13865 Sunrise Valley Drive and 2525 Network Place Herndon, VA), Dulles Executive Plaza I & II (13530 & 13560 Dulles Technology Drive Herndon, VA), and most recently Gateway Tower (401 North Washington Blvd Rockville, MD).
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years. The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction / development and accounting. Our focus is primarily on acquiring office and mixed-use investments located in the Northeast and Mid-Atlantic CBD and transit-oriented submarkets. We own and operate one of the largest private real estate portfolios in the region totaling over 14 million square feet and a development pipeline of four million square feet. Our deep local relationships, vertically-integrated capabilities, and diversely-experienced team give us a distinct advantage, which enables us to consistently turn under-achieving real estate into exceptional high-yielding investments.
Normandy’s management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors. Normandy currently manages approximately $2.0 billion of equity capital, representing total asset value of $4.0 billion. For more information visit www.normandyrealty.com.