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Reopened Herald Building in DC Signs Two New Tenants
Two new companies have inked space at the renovated Herald Building in Washington, D.C., with owner Marx Realty. The companies took a total of 9,200 square feet at the 114,000-square-foot building, which reopened after a major facelift earlier this fall. Nonprofit Barbara Bush Foundation for Family Literacy signed a seven-year lease for a 6,000-square-foot space on the seventh floor, while marketing firm Scott Circle Communications signed a five-year, 3,200-square-foot office lease for one of the building’s pre-built suites on the seventh floor.
“This level of momentum illustrates the demand for highly distinctive space,” Craig Deitelzweig, president and CEO of Marx Realty, told Commercial Observer. “We have been very pleased with the caliber of our new tenants and expect more to follow suit very shortly.”In April of 2020, Marx Realty acquired the historic building in a $41 million deal. Located at 1307 New York Avenue, the building was built in 1923, and previously served as home to the Washington Herald Examiner’s offices and printing presses. Marx Realty invested an additional $41 million to transform the entire building, renovating everything from the lobby to the club floor to the pre-built office suites. The property reopened on Sept. 21. Amenities at The Herald include a 40-seat boardroom, a European-style cafe and the Bouvier Lounge, an 8,800-square-foot club floor that incorporates historic photos, curated artwork, newspaper printing memorabilia and a fireplace. The new leases follow CGCN Group’s 10-year, 8,000-square-foot lease signed in September. Asking rent at the property is $72 a square foot, according to someone familiar with the property.
“Tenants love the hospitality-infused aesthetic and incredible ceiling heights,” Deitelzweig said. “They are responding to how special the space is and they are really excited to introduce the space to their employees and guests.”In connection with each lease, three native trees will be planted in local D.C. neighborhoods as part of Marx Realty’s mission of creating a healthier environment for both its offices and the surrounding environment. Marx Realty was represented by Doug Mueller, Evan Behr, Nathan Beach and Jeanette Ko of JLL; Scott Circle Communications was represented by Creighton Armstrong and Lauren Thomas of JLL; and the Barbara Bush Foundation was represented by Chris Lucey and Doug Damron of Newmark. A third lease, from an unnamed think tank, took 7,000 square feet of space on the fifth floor. Marx Realty declined to share the name of the tenant. JLL’s Andy O’Brienand Zach Boroson represented the tenant. The tenants and brokers did not immediately respond to requests for comments.