National consulting firm Bates White inks deal for new D.C. office

Economic consulting firm Bates White LLC will shift its D.C. headquarters within the central business district early next year from Franklin Square to the newly expanded and renovated Alexander Court.

The national firm, which has called 1300 Eye St. NW home for about a decade, has signed a lease for roughly 85,000 square feet at 2000 L St. NW, which is being expanded by four floors and connected to 2001 K St. NW by partners Rockrose Development Corp. and Spitzer Enterprises.

The lease, for about a floor and a half, is the third for Rockrose and Spitzer since announcing the project in 2015. Cornerstone Research and law firm Akin Gump Strauss Hauer & Feld LLP have also signed leases there.

The Bates White deal brings occupancy to about 70 percent, at higher rents than either building was commanding prior to the renovation, and Rockrose Director Ted Traum said the level of activity and interest has validated the partners' hopes in taking on the project.

"We've been very fortunate. I think the project has been pretty well received," Traum said. "There are a number of things working in our favor with the project. The architecture is first rate, and that's been an attraction for our tenants."

Traum said prospective tenants also have responded positively to Alexander Court's amenity package, which includes a rooftop conference room and entertainment space designed to accommodate up to 100 people and a 7,500-square-foot fitness center.

The renovations, designed by Pelli Clarke Pelli Architects with Fox Architects, also include a floor-to-ceiling glass curtain wall and a 12-story atrium. Renovations are expected to be completed by the first quarter of 2018.

CBRE Group Inc. broker Kevin Howard represented Bates White in negotiating the 15-year lease and Avison Young brokers Will Stern and Greg Tomassorepresented the landlord.