Pembroke announced three new leases at its property in Washington, D.C., located at 1201 New York Avenue.
While District-wide vacancy has climbed for four consecutive quarters—reaching 19.9%, according to Stream Realty Partners’ latest Quarter—1201 New York, a 443,000-square-foot property, continues to outperform the market, achieving a 94% lease rate.
Incoming tenants to 1201 New York, The Aluminum Association, Cruise Lines International Association and ITG Brand. CBRE’s Amy Bowser, Brooks Brown and Will Donohue represented 1201 New York in the transactions. Tenant representative brokers include CBRE’s James Dennin and Elizabeth Birch for Cruise Line Industry Association, CBRE’s Brad Wilner and Chad Barbiasz for ITG Brands, and Cresa’s Avery Rand and Mindy Saffer for Aluminum Association. 1201 New York is now represented by Stream, including John Klinke, Matt Pacinelli, Tim McCarty, and Josh McDonald.
“We remain dedicated to keeping our assets competitive for the long-term and, as such, are continuing to invest in elevating 1201 New York’s amenities,” said Max Timmons, Director, Asset Management for Pembroke.
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