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Transwestern Steers Nonprofit Tenant to New Lease in DC’s East End
Transwestern Real Estate Services (TRS) represented the Center for International Private Enterprise (CIPE) in a 20,375-square-foot lease to relocate its headquarters to Franklin Tower, a Class A, 226,530-square-foot office building at 1401 I St. NW in Washington, DC. The firm’s Ganon Rich and Eric West facilitated the 15-year lease. CBRE’s Mark Klug represented the building owner.
“As CIPE’s real estate partner for over 20 years, we understood the organization’s vision and business goals,” said Rich. “This strategic move enables CIPE to increase its organizational effectiveness by consolidating onto one floor while reducing its annual office space costs by more than 30%.”
Franklin Tower is situated next to Franklin Park in DC’s East End submarket. Recently renovated, the building’s amenities include a new conference center, tenant lounge and fitness facility and first-floor retail. Notable tenants include Anheuser-Busch Companies, HSBC, Mastercard and Polsinelli PC.
- ◦Lease
