Leases Renewed at 660 North Capitol

WASHINGTON, Jan. 17, 2024 - JLL announced today, that on behalf of Eagle Cliff Real Estate Partners, it facilitated the lease renewals of two tenants in place at 660 North Capitol Street in Northwest Washington, DC. The leases total more than 78,000 square feet and encompass floors three through five as well as a portion of the ground floor. Eagle Cliff Real Estate Partners announced plans for renovations to the lobby and rooftop as well as a spec suite program when it took control of the asset in December of 2023.

“The renewal of these associations' leases further reinforces the quality of this building as well as the new ownership's commitment to ensuring the most viable and productive workspace for not only existing tenants, but also for new tenants,” stated Doug Mueller, Executive Managing Director, JLL. “Although 660 North Capitol is fairly new, having been built in 2016, we now know so much more about the way people are utilizing office space today. Eagle Cliff's investment in the building demonstrates their commitment to providing high quality office product for a variety of tenants and users.”

“We are pleased to be headquartered in central Washington, steps from the U.S. Capitol and our intergovernmental partners as we advocate to strengthen America’s counties,” said Matthew Chase, CEO and Executive Director, National Association of Counties. “We look forward to continuing our presence here, convening our county leaders, world-renown experts and allies who are committed to building healthy, safe and vibrant counties across the country.”

“As the voice of America’s cities, towns, and villages, having a location in the heart of our nation’s capital with close proximity to Congress, the White House and our federal agency partners is critical,” stated Clarence E. Anthony, CEO and Executive Director, National League of Cities. “And as a membership organization that represents cities, we’re proud that our headquarters supports the District of Columbia and Mayor Bowser’s efforts to revitalize downtown DC.”

“We are thrilled to retain these two tenants for the long term at 660 North Capitol,” said Paul Teti, Co-Founder and Partner, Eagle Cliff Real Estate Partners. “We are fully committed to creating an office environment that today’s businesses and organizations will thrive in and we look forward to building upon this early success as we bring new tenants to the building in partnership with JLL.”

“We were excited to represent two prominent associations on a restructure of their lease,” said Mindy Saffer, Managing Principal, Cresa. “Eagle Cliff created a competitive transaction structure yielding significant cost savings as well as concessions to improve the tenants’ workspace and support the new work environment. Further, our clients are excited about Eagle Cliff’s plans to renovate the lobby and rooftop of the building and their hands-on management style.”

JLL’s Doug Mueller, Evan Behr and Mac Hall represented Eagle Cliff Real Estate Partners in the transaction while Cresa’s Mindy Saffer, Jonathan Harms, and LaMean Koroma represented National Association of Counties and National League of Cities.

For more information about JLL DC, visit https://www.us.jll.com/en/locations/mid-atlantic/washington-dc. For more news, videos and research resources, please visit JLL’s newsroom.

Eagle Cliff Real Estate Partners is a private investment firm focused on real estate opportunities across diversified asset classes in the Northeast and Mid-Atlantic regions of the US. Eagle Cliff creates value through collaborative partnerships, thoughtful investment structuring, and undertaking a hands-on approach to operations and development management. Eagle Cliff is managed by Paul Teti and Giorgios Vlamis and invests capital on behalf of both family offices and institutional partners. Over the past 20 years the Eagle Cliff management team has been part of building, improving, and monetizing both real estate investments and operating companies. For more information, please visit: eaglecliff.com.