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Newmark today announced that it has been awarded the exclusive leasing assignment for Portals III at 1201 Maryland Avenue, SW. With 186,145 square feet available, the building features a newly-renovated fitness center and will include a new bike storage facility, delivering in 2018.
Portals III is adjacent to The Wharf and The Mandarin Oriental Hotel, and offers top-tier amenities in one of DC’s hottest neighborhoods. Owned and occupied by an affiliate of the Republic Family of Companies, the property is part of The Portals, a $1-billion, mixed-use development in Southwest Washington, which will encompass more than 2.2 million square feet of office and retail space as well as residential units.
The property overlooks the Potomac River and Tidal Basin while boasting incredible views of the U.S. Capitol Dome, Washington Monument, Jefferson Memorial, Washington Marina, National Mall, Smithsonian Institution Buildings and the Arlington Skyline.
Portals III is conveniently located two blocks from the Silver, Orange, Blue, Green and Yellow lines at L’Enfant Plaza Metro Station and the Silver, Orange and Blue lines at Smithsonian Metro Station. It is also within proximity of Route 1 and I-395, providing easy accessibility for commuters.
In addition to the Starbucks and CVS Pharmacy in the building, the property will feature a new retail tenant SoHo Café & Market, which signed a lease to move into approximately 5,300 square feet in the first quarter of 2018. The Portals III Soho Café & Market location will feature a private outdoor patio at the corner of 12th Street and Maryland Avenue. This is Soho Café & Market’s third new location in Washington, DC within the past year.
Newmark’s Chairman of Asset Services Brendan Owen, Associate Director Rafael Notario and Associate Morgan Monroe will handle the leasing of the building on behalf of the Owner.
“Republic’s high-value asset in the heart of DC’s trendiest new neighborhood offers incredible access, brand new amenities and the excitement surrounding the opening of The Wharf,” said Newmark’s Owen. “Portals III provides a wonderful opportunity for tenants to experience the vibrant new submarket.”
About Newmark
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.