- What Oxford Properties and Norges Bank Investment Management have leased additional space at 1101 New York Avenue NW in Washington, D.C.
- Why Milbank will take 65,000 sq ft at the property
- What next Around 28,000 sq ft of space remains available
A joint venture between Oxford Properties and Norges Bank Investment Management has signed Milbank to a lease at an office property in Washington, D.C.
The international law firm has agreed to take 65,000 sq ft at 1101 New York Avenue NW. The 12-storey, 388,000 sq ft building is in the East End submarket of the U.S. capital.
With that agreement, the property is 94% leased. Other tenants include A&O Shearman, Bloomberg, EY and the National Retail Federation. There is 28,000 sq ft of available space.
Cushman & Wakefield represented Milbank, while Stream Realty Partners represented Oxford and Norges.
Oxford and NBIM bought the property in 2017 for US$389.3m ($543.8m), with Oxford taking 51% and NBIM acquiring 49%. The sellers were a joint venture between W.R. Berkley and Property Group Partners.
Article amended at 8:24 a.m. ET on Nov. 22, 2024, to add advisors.
