Savills News

Savills Completes Lease Agreement for CommonGrounds Workplace

Flexible workspace and coworking provider to occupy 29,000 square feet in the District Center of D.C.

WASHINGTON (July 24, 2019) – Savills has completed an 11-year, 29,509-square-foot lease to locate CommonGrounds Workplace at 1500 K Street NW in the heart of downtown Washington, D.C.

CommonGrounds, a San Diego-based coworking space provider, is expected to open the D.C. location in early 2020 and occupy the entire second and ground floor retail spaces as the second-largest tenant of the 11-story property.

Savills Executive Managing Director Laurent Myers advised CommonGrounds in the location search.

“CommonGrounds’ dynamic D.C. location will welcome companies of all sizes to the flexible, move-in ready workplace. As a fast-growing coworking space provider, it was critical that we find CommonGround a property in the heart of D.C. that is a scalable, modern space where their members can thrive,” said Myers.

The 1500 K Street is a 263,700-square-foot mixed-use building constructed in 1929. It was renovated in 2017 and now offers a cosmopolitan mix of high-end dining, upscale retail, a brand new tenant-only fitness center and a reimagined roof terrace with striking park and city views.

The property overlooks McPherson Square and is in close proximity to the White House, National Mall, historic landmarks and public transportation. Other tenants include Drinker Biddle, Washington Lawyers Committee for Civil Rights and Wilson Elser.

The owners of the property, Grosvenor Americas, were represented by Kevin Howard, Mark Klug, Lara Nealon and Dimitri Hajimihalis of CBRE.

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