WASHINGTON (July 16, 2019) – Savills has completed a long-term lease to relocate The Recording Industry of America (RIAA) to 1000 F Street NW, an 11-story, boutique trophy office building located in the heart of Washington, D.C.’s East End/Penn Quarter neighborhood.
The trade organization, which supports and promotes the creative and financial vitality of the major music companies, is expected to move from its current 1025 F Street NW location to the new space in April 2020.
Savills Executive Vice President and co-Regional Manager Ben Plaisted and Senior Managing Director Greg Scheipers advised RIAA in its real estate search, while Mark Klug of CBRE represented the building ownership, Douglas Development, in the transaction.
“As an organization that frequently hosts musical performances and special events, it was crucial for RIAA to find a building in D.C. that offered a modern work environment as well as a unique space for live musical performances,” said Plaisted. “Following an extensive search of the entire market, our team successfully negotiated the termination of RIAA’s existing lease two years prior to their lease expiration, which allows them to move into a building that accommodates their entire staff as well as their needs for creative performance space.”
RIAA’s new lease will encompass 20,400 square feet across the 2nd and 3rd floors, which will be specifically designed to accommodate the association’s current staff needs and future growth. The space will also include a dramatic 2,000-square-foot mezzanine floor that sits above the adjacent retail building and has 20-foot high ceilings and exposed brick for musical performances.
Located one block from Metro Center, the 92,160-square-foot development at 1000 F Street NW includes ten levels of glass-lined office space and ground floor retail within two levels of below grade parking.