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Monument Realty Inks Two Office Leases in D.C.

Monument Realty and partner Ares Management have announced the closing of two lease deals at its recently acquired Class-A office building in Washington D.C., The Liberty Building.

Since the acquisition in December 2020, Monument and leasing partner Avison Young have executed a lease renewal with New Skies Satellites, Inc., a global content connectivity solutions and satellite telecommunications company. The firm will remain in 17,000 square feet on the top floor of the building for the next 11 years. Additionally, Monument finalized a lease with ProPharma Group Holdings, a global provider of regulatory, compliance, pharmacovigilance, and medical information services firm serving pharmaceutical, biotechnology and medical device companies. ProPharma Group will occupy 10,000 square feet on the 6th floor for 11 years.

As new owners, Monument plans a substantial interior renovation focused on providing a market leading office environment, inclusive of first-class amenities, which meet the needs and trending demands of tenants in downtown Washington, D.C. The Liberty Building was fully renovated in 2009, which included the addition of two new floors. Monument plans additional renovations to the 10-story office property.

Eli Barnes, Will Stern and Lauryn Harris of Avison Young have been tapped to lease the property.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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