MRP Realty and Westbrook Partners Select Cushman & Wakefield to Lease 2000 Pennsylvania Avenue NW Redevelopment

Cushman & Wakefield’s Bruce Pascal, Stephanie Heffernan, Mark Wooters and Kyle McFadden will Provide Agency Leasing Services at 2000 Pennsylvania Avenue

WASHINGTON, DC, August 15, 2018 – Cushman & Wakefield announced today that it has been selected by MRP Realty and Westbrook Partners as the exclusive office leasing agent for 2000 Pennsylvania Avenue NW. Brokers Bruce Pascal, Stephanie Heffernan, Mark Wooters and Kyle McFadden are responsible for the lease-up of approximately 150,000 square feet of remaining office space in the 400,000-square-foot building.

“Cushman & Wakefield is thrilled to work with MRP Realty and Westbrook Partners on this momentous project,” said Pascal, Executive Managing Director. “The ownership partners are masters at injecting new life into their projects and strive to create innovative, iconic and memorable experiences at each of their properties. We are confident in their vision for 2000 Pennsylvania Avenue, and we are excited to reintroduce the project to the market.”

MRP Realty and Westbrook Partners plan to embark on a full-scale renovation of the existing retail concourse, office building and historic townhouses, delivering an on-site experience tailored to the needs of today’s modern tenants. Current tenants include The George Washington University and Sughrue Mion, PLLC.  Additionally, the partnership has signed a 40,000-square-foot lease for MakeOffices, a DC-based coworking provider, whose location will open in 2019. MakeOffices will offer local users an alternative to traditionally leased office space and further enhance the existing quality tenant roster at the building.

2000 Pennsylvania Avenue NW is a 10-story, Class A mixed-used building in the Central Business District of Washington, DC, providing both office and retail space, including a centrally located retail plaza and historic, commercial row-houses. The building is near several modes of transportation—most notably the Foggy Bottom Metrorail Station. The property will offer office space retail, and creative office space in the townhouses. Ownership’s immediate focus is on completely upgrading the visitor experience by enhancing the already thriving neighborhood retail culture with the addition of new and exciting service-oriented retail providers.

 

About MRP Realty

Founded in 2005, MRP Realty is a real estate operating company focused on opportunistic and value-add investment in the northeastern United States, with offices in Washington, D.C., Maryland, Virginia, Pennsylvania, and New York City. MRP provides to its institutional capital partners a full array of real estate services including: acquisition/disposition, development/construction management, property management, asset management, and financial reporting services. Since the company’s inception, MRP has deployed $4.1 billion in total capitalization, an average of over $300 million per year. MRP’s combined development assets total more than 20 million square feet, with an additional 9+ million square feet under management. For more information, please visit www.mrprealty.com.

About Westbrook Partners

Westbrook Partners, founded in April 1994, is a privately-owned, fully integrated real estate investment management firm with offices in New York, Boston, Washington, DC, Palm Beach, San Francisco, Los Angeles, London, Munich, Paris, and Tokyo. Westbrook’s professionals are responsible for acquisition, value enhancement, financial, legal, tax, accounting, and risk management. Westbrook’s experience includes the operation and management of office, multi-family residential, hotel, retail, industrial, and single-family residential development properties. Westbrook’s investment equity is currently committed by a broad, stable base of the highest-quality institutional investors, which include public and private pension funds, endowments, foundations, and financial institutions. Westbrook has full discretion over all investment decisions.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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2018-08-22T17:43:26+00:00 August 22nd, 2018|In the News, Press Release|