Well-executed renovations and a partnership with an industry leader have re-established Market Square as one of D.C.’s premier office addresses.
Market Square, which curves majestically around the U.S. Navy Memorial on Pennsylvania Avenue, has long been the icon of D.C. office space. However, leasing fundamentals in the nation’s capitol have been challenging in recent years, even for market leaders like this. Nonetheless, Columbia has signed more over 250,000 square feet of leases at the property in the last two years, including a sizable recent renewal and expansion with Edison Electric, and the property now boasts more than 20 Fortune 500 companies among its roster of tenants.
To continue this leasing momentum and help us complete a significant renovation of the building's common areas, we engaged Blackstone Property Partners as a 49% partner last year. With a new marketing center, updated lobby, and new fitness center, Market Square is well positioned to capitalize on market opportunities.