Mortgage Bankers Association Renews DC Lease

Mortgage Bankers Affiliation is holding its headquarters in Washington, D.C., Business Observer has discovered.

The nationwide affiliation representing the actual property finance trade has renewed its 34,560-square-foot workplace lease at 1919 M Road NW in Dupont Circle by means of 2035. 

The 274,000-square-foot constructing, which was in-built 1967 and renovated in 2000, is owned by 1919 M Road Affiliation Restricted Partnership. JBG Smith  manages the property.

The brand new lease phrases will cut back MBA’s lease by greater than $4.2 million over the course of the lease, in response to Avison Younger, which dealt with the negotiations for the MBA. The lease was not disclosed. 

“MBA has made a long-term dedication not simply to Washington, but additionally to the Central Enterprise District, its house for many years,” Bruce McNair, a principal of Avison Younger, stated in a ready assertion. “We couldn’t be happier for MBA, its workers and its members.” 

Different favorable phrases for MBA included securing “substantial” funding for MBA to redo its interiors to accommodate a hybrid work setting, and acquiring a dedication from the proprietor to modernize the constructing techniques and improve all the public areas together with the principle constructing foyer, in response to Avison Younger. 

“This lease renewal means MBA is completely positioned for the longer term in a super setting tailored to the altering office,” Laura Peterson, Avison Younger’s senior vice chairman, stated. “Will probably be a premier headquarters befitting a premier group.” 

The constructing presents quick access to Georgetown and Capitol Hill, and is near the Dupont Circle Metro station.   

The Avison Younger staff additionally included Will Travis. The proprietor was self-represented.

The events within the deal declined to debate the deal additional. 

Keith Loria may be reached at Kloria@commercialobserver.com.