Capitol Crossing lands Elias Law Group for 250 Massachusetts Ave. NW - Washington Business Journal - Washington Business Journal
A newly formed law firm will be the first tenant in the second office building constructed at Capitol Crossing.
Elias Law Group LLP has signed a lease for 54,000 square feet, the entire fourth floor, at 250 Massachusetts Ave. NW, landlord Property Group Partners announced Monday.
It's an important win for Capitol Crossing, which spans three city blocks on a new platform built atop Interstate 395 on the city's East End. The $1 billion project has been under construction for six years, but so far only two office buildings have delivered, spanning roughly 1 million square feet between 200 and 250 Mass — and there remains significant vacancies in each.
International law firm Perkins Coie and its Political Law Group announced in August that 11 partners and three counsel would separate from that firm to form Elias Law Group, led by Marc Elias. The new firm's goal, per that announcement, "helping Democrats win, citizens vote, and progressives make change."
Elias was general counsel to Hillary Clinton's 2016 presidential campaign as well as a leader in the Democratic National Committee's legal responses to the 2020 presidential election.
“The location of our new space at 250 Mass puts us in the heart of the city between the White House and Capitol Hill and close to federal courts,” said Elias’ managing partner, Hannah Eaves.
The law firm says it counts 500 clients already, many of them nonprofits, advocacy groups and organizations affiliated with state and local Democratic Party operations. The company will expand to 75 lawyers before the end of the year. It's already taken on 25 cases, many involving voting rights or redistricting.
The lease is good news for the East End submarket, where the office vacancy rate topped 20.1% in the third quarter, according to CBRE, having seen a net decrease in occupancy this year of 282,000 square feet. This District's overall vacancy rate stands at 18.2%, itself a record.
Elias Law joins numerous other firms that have found new homes this year, with many saying remote work will change how the business handles its real estate.
As for Capitol Crossing, Property Group Partners is readying the next phase of construction, starting with a 180,000-square-foot apartment building, then a 297,000-square-foot office building or hotel, and finally a 650,000-square-foot office building. Work is not expected to be completed for another decade. It recently hired George Cantrell, formerly of Republic Properties Corp., as executive vice president to oversee day-to-day operational activities for PGP's portfolio, including Capitol Crossing.
In the deal with Elias, Capitol Crossing was represented by Evan Behr, Doug Mueller and Nathan Beach of JLL while the firm was represented by Ella Cooper of Cushman & Wakefield.
source: https://www.bizjournals.com/washington/news/2021/11/08/new-law-group-signs-on-at-250-mass.html
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