D.C. Charter School Board Signs New Lease
The D.C. Public Charter School Board is relocating to Capitol Riverfront and will lease 13,950 square feet at 100 M St. SE, first reported by Washington Business Journal. The organization’s current lease at 3333 14th St. SW is set to expire on Sept. 30 and it has been unable to negotiate an extension thus far due to the location being too small for its growing staff.
The new lease is an 11-year commitment with an annual rent starting at $739,350 and escalating at 2.5% each year after, with an option for a 16-year extension. The move to 100 M, the lowest-priced option of four considered, also places the organization closer to a majority of D.C.’s public charter schools in Ward 8.
The landlord of 100 M, a joint venture of Lionstone Investments and Hermes Investment Management, has an existing relationship with the District government as the Office of the Inspector General is occupying part of the building this year.