Environmental Defense Fund (EDF), an environmental organization, is relocating its DC office to District Center with a 35,000 square feet lease. Located at 555 12th St. NW in the East End submarket of Washington D.C., District Center is a 12-story Class A building developed by MetLife Investment Management and Norges Bank Investment Management which offers 850,000 square feet of space including an atrium lounge, fitness center, rooftop Sky Lounge and various retail options. Stream Realty Partners represented the landlord while Transwestern represented EDF in this transaction; EDF plans to move into their new office by October 2023.
Ninth Straight Month of Increased CMBS Special Servicing
According to Trepp, the rate of special servicing for CMBS loans increased by 33 basis points in September, reaching a