Savills Studley arranges relocation for Amtrak: 11-year lease for 85,000 s/f

April 14, 2017 - Front Section

Washington, DC Savills Studley has arranged an 11-year, 85,000 s/f lease with national rail operator Amtrak for its U.S. headquarters at One Massachusetts Ave., NW,  a.k.a., the National Guard Memorial Building.

The new lease enables Amtrak to relocate its operations from Union Station to the eight-story, 174,000 s/f property, which is located at the intersection of North Capitol St. and Massachusetts Ave. The new lease commences in the fall of 2017.

“Amtrak is excited to have found a new home for our corporate offices, central to Washington Union Station and the neighborhood that supports our second busiest station,” said Bart Bush, Amtrak vice president of asset and real estate development.

“This office move affords Amtrak the opportunity to optimize the effectiveness of our corporate talent, providing professional, modern spaces and technology for increased collaboration and productivity.”

Savills Studley’s executive vice president Bill Quinby, Tim Foley, David Cornbrooks and project management director David Simmons represented Amtrak in the long-term lease transaction. OPX provided workplace strategies services and is the designer/architect of record. 

With the understanding that Amtrak’s HQ functions needed to remain in close proximity to Union Station, the Savills Studley team identified, analyzed and negotiated lease terms with existing and to be built buildings in NOMA/Capitol Hill submarket in advance of Amtrak’s lease expiration at Union Station.  The final lease included a generous concession package which offers several new amenities and improvements, including a large conference center, expansive views and a new tenant-only fitness center.

One Massachusetts Ave., NW, only blocks away from the U.S. Capitol and the National Mall, is home to the National Guard Memorial Museum, the Memorial Library and the Medal of Honor Gallery. The landlord, the National Guard Association of the United States, was represented by Bert Donohoe at Donohoe Real Estate Services in the transaction.

Amtrak is officially known as the National Railroad Passenger Corporation. With 21,000 route miles in 46 states, the District of Columbia and three Canadian provinces, Amtrak operates more than 300 trains each day to more than 500 destinations.

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services.  With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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