(WASHINGTON, D.C.) – Hines, the international real estate firm, confirmed today that Hogan Lovells LLP has signed a lease renewal commencing in June 2017 for approximately 385,000 square feet at Columbia Square in Washington, D.C.
Hogan Lovells has been the anchor tenant at the property since the building opened in 1987.
Columbia Square is a 600,000-square-foot, 13-story trophy office building located in the east end of Washington’s central business district. Hines developed the building and currently manages it in partnership with MEAG, Munich Re’s asset manager. Columbia Square, designed by the world-renowned architectural firm I.M. Pei & Partners, has received LEED® Gold certification by the U.S. Green Building Council and the ENERGY STAR® designation by the U.S. Environmental Protection Agency.
“Our organizations have enjoyed a long and mutually beneficial relationship since Columbia Square was initially conceived, and we are especially pleased that Hogan Lovells will continue to call this property its home for the long-term future,” said Thor Headley, Hines managing director. “Furthermore, we believe that the firm’s continued commitment solidifies Columbia Square’s position as one of Washington, D.C.’s truly exceptional downtown office buildings.”
In conjunction with the lease renewal, Hogan Lovells will completely renovate its space to meet the firm’s current and anticipated future programming needs. Common areas of the building will also be updated.
Dr. Hans-Joachim Barkmann, Managing Director at MEAG, commented, “Columbia Square is a perfect example of our portfolio optimization strategy. Long-term lease contracts with top companies of excellent financial standing make for great investments. Satisfied top tenants are the key to the lasting attractiveness of such properties, which are the focus of our real estate strategy."
It is anticipated that approximately 180,000 square feet of space at Columbia Square will be available for lease in 2017.
This marks the first time since the opening of the property that a significant amount of space will be available to potential tenants.
Rick Rome and Alexandra deVilliers of Savills Studley represented Hogan Lovells in the renewal transaction. The ownership of Columbia Square has been represented by Thor Headley; Hines Senior Managing Director, Bill Alsup; the Real Estate Asset Management International Team of MEAG; and its U.S.-based advisor Realty Services Group.
About Hogan Lovells
Hogan Lovells is a global legal practice that assists corporations, financial institutions, and governmental entities across the spectrum of their critical business and legal issues globally and locally. The firm has over 2,500 lawyers operating out of more than 40 offices in Africa, Asia, Europe, Latin America, the Middle East, and the United States.
Hogan Lovells became a top 10 global legal services provider in May 2010 through an unprecedented combination of two firms with international credentials, U.S.-based firm Hogan & Hartson and European-based firm Lovells. Modern-day Hogan Lovells carries on the 112-year tradition of excellence established by its founders and further builds on their legacy.
For more information visit www.hoganlovells.com.
MEAG stands for best practice asset management for Munich Re and ERGO. MEAG has representations in Europe, Asia and North America and also offers its extensive know-how to institutional investors and private clients from outside the Munich Re Group.
MEAG currently manages assets valued at approximately $300 billion
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,317 properties representing more than 541 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED, ENERGY STAR, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.