(WASHINGTON DC) – Hines, the global real estate investment, development, and property manager, and General Motors Pension Fund announced today that The Washington Post, award-winning media publisher and paper of record, has renegotiated its 300,000-square-foot lease at One Franklin Square in Washington D.C.
"We are delighted to be extending the important and long-standing relationship with The Washington Post at One Franklin Square,” said Andrew McGeorge, senior managing director and city head of Washington D.C. at Hines. “This commitment made by The Washington Post underscores the importance that this prestigious news organization places on having a dynamic workplace that supports its business activities, as well as the attraction and retention of key talent We look forward to continuing to work with The Washington Post in the years to come.”
“As the paper of record for Washington, we’re proud to be headquartered in the heart of the city, just blocks from the world’s most powerful leaders,” said Steve Gibson, chief financial officer for The Washington Post. “The Post is committed to the District both in our coverage and in our long-term presence at One Franklin Square, as we continue to deliver world-class journalism in service of local, national and global readers alike.”
The Washington Post was represented by JM Zell Partners
The Washington Post has been a long-term tenant since 2016. The Class A, 12-story, 600,000-square-foot building’s distinctive design and prominent location on Franklin Square make it one of Washington’s most identifiable office buildings, located just four blocks from the White House. One Franklin Square redefines the standard for Washington, DC office amenities, featuring a rooftop terrace and conference room with a capacity for 130 people and sweeping views of the skyline, a new fitness and yoga center, and a recently revitalized retail experience including Compass Coffee, SoHo Café, and Union Kitchen.
In addition to the lease extension, Hines has modified and extended the building’s existing loan through its lender, Mesa West, for up to five years with funds available for future leasing activity. Hines acquired the property in 1996 and has served as property manager since the acquisition. The office building is also home to notable tenants such as Reed Smith and Davis Wright Tremaine.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $94.6B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 790 properties totaling over 269 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2023.
