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News release

Washington, D.C.

NASA Renews Lease for Over 597,000 SF in Southwest DC

15 year lease will keep agency at Two Independence Square


WASHINGTON, D.C., Feb. 25, 2011 – Jones Lang LaSalle announced today the completion of a lease renewal for the National Aeronautics and Space Administration (NASA) at 300 E St. S.W. on behalf of landlord Piedmont Office Realty Trust Inc. (Piedmont).  After exploring numerous options in the Washington, DC area for approximately 600,000 square feet, NASA decided to remain at its current location, known as Two Independence Square, where the organization has been headquartered for almost 20 years.

The General Services Administration (GSA) signed the 597,253 square foot lease on behalf of NASA, which includes an agreement by Piedmont to renovate the interior of the building over the next two to three years.  The new lease is for 15 years. 

Marcy Owens Test, Joe Brennan and William Hill of Jones Lang LaSalle represented the landlord in the transaction, while Henry Chapman and Leroy Battle of CB Richard Ellis represented the GSA.  Ken Mulrane, George Wells and Jason Williams led Piedmont’s team, while Kevin Terry acted as the GSA contracting officer in the deal.

“This has been a rigorous negotiation of the lease terms, and now NASA will remain at an ideal headquarters location that maintains great visibility for this important federal tenant,” said Marcy Owens Test of Jones Lang LaSalle.  “Planned renovations will turn this office space into a highly efficient and modern facility, fulfilling NASA’s organizational needs and supplying employees with a state-of-the-art work environment.”

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.