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News release

WASHINGTON, DC

Compass Builds Flagship Office on 14th Street at Star Laundry Building

Fast-Growing Real Estate Platform Opens Three New Offices, Including Douglas Development’s 1313-1317 14th St., in Georgetown and on Capitol Hill


WASHINGTON, MAY 19, 2015 – Compass – the technology-driven real estate platform – is growing in DC and will soon be able to accommodate over 200 brokers. They have signed a 10-year, 15,000-square-foot pre-lease at the historic Star Laundry Building located at 1313-1317 14th St. NW, for a flagship office. They will move into Douglas Development’s Star Laundry Building the first quarter of 2016, following the build out designed by Hickok Cole Architects Inc.

The 14th Street location will join Compass’ 4,000 square-foot Capitol Hill office located at 660 Pennsylvania Ave. SE and an upcoming 6,500 square-foot office located in Georgetown. In total, this expansion affords workspace for 200 agents as part of Compass’ growing team.

“We are thrilled by Compass’ growth in the DC market, and are fortunate to be able to expand our footprint with our new headquarters,” said Robert Reffkin, founder and CEO of Compass. “Our top priority has always been to strengthen and invest in our agents, and we are excited to continue that in DC’s most notable buildings.”

"When we were developing our plans for the Star Laundry Building, a tenant that utilizes space like Compass was exactly what we had in mind," said Norman D. Jemal, Douglas Development Corporation. "People love exposed brick, high ceilings and outdoor space, and we are thrilled and honored to have Compass make our project its DC headquarters."

Compass offers consumers and agents a simpler, more intelligent approach to brokerage, combining best-in-class agents and intuitive, integrated technology. DC-area consumers can view guides for some of the region’s top neighborhoods, as well as search and request to see area home listings through Compass’ integrated website and mobile app. Coupled with agents’ unparalleled local knowledge and seamless information sharing, the Compass platform delivers an exceptional client experience that is revolutionizing real estate in the DC market.

“We are proud to make roots in this beautiful space in the heart of DC,” said Lindsay Reishman, President of Compass Washington DC “We want our agents to love where they work, and that starts with the physical space.”

These three new offices will help accommodate Compass’ continued expansion into the DC-area market. Since the initial acquisition of Lindsay Reishman Real Estate last fall, Compass has nearly tripled its agent population, with several of DC’s top producers joining the firm. Among these are The Mandy & David Team formerly of Coldwell Banker, led by Mandy Mills and David Getson and ranked the leading team in the DC market in 2013; The Alex Venditti Group, led by Alex Venditti, formerly of TTR Sotheby’s International Realty, whose team closed more than $40 million in sales last year; and Phil & Jeanne, a team led by Phil Guire and Jeanne Harrison, which is consistently recognized as a top producer on Capitol Hill and nationwide.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.