Grass roots analysis has signed an office lease contract of 24,692 square feet with three floors in Curved Square in Downtown Washington, DC
The company will more than double in size in the city when it moves into 803 Seventh Street NWa mixed property owned by a Swiss real estate investment foundation AFIA. The transaction makes the office component of the building 100 percent occupied.
The terms of the lease and the lease request were not disclosed. Avison Young‘s Greg Tomasso and Macy Parana represented AFIAA in the lease. Sean Read, Jake Payne and Whitney Huang of Clarity Tenant Representative represented by Grassroots Analytics.
“Achieving full occupancy is an important milestone, especially in today’s office market,” Tomasso said in a statement. “These leases not only strengthen Arch Square’s tenant roster but also demonstrate that there is a demand for the right product in the right location.”
Agreement comes as The DC office leasing market is showing improvement. Leasing volume increased 21 percent in the third quarter compared to the same period last year, according to Avison Young.
Even after reaching full office occupancy, Arch Square still has about 25,000 square feet of dedicated space available. AFIAA is marketing the space to retailers and prospective tenants who may be considering creative offices, showrooms or other uses.
Gregory Cornfield can be reached gcornfield@commercialobserver.com.