Fannie Mae has announced its early exit from its Washington, DC headquarters at Midtown Center. The decision was made to exercise an early-out clause in the lease, with the effective date being May 2029. Carr Properties, owner of Midtown Center, confirmed that Fannie Mae will vacate their 720,000 square feet of space and it will be available for lease starting June 2029.
The initial deal between Fannie Mae and Carr Properties was a $770 million contract for a period of 15 years beginning in 2018. However, this agreement was set to expire on September 30th ,2033.
