Washington, D.C. – Cresa Washington DC, a corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated services, announces today that it has negotiated on behalf of the Council for the Accreditation ofEducator Preparation (“CAEP”) in a 9,572-square-foot headquarters expansion and relocation at 1140 19th St. NW in Washington, D.C.
In this long-term lease, Cresa Washington DC Senior Vice President Daniel Klueger and Senior Advisor Megan Hixon represented CAEP, which advances excellence in educator preparation through evidence-based accreditation that assures quality and supports continuous improvement to strengthen P-12 student learning.
Currently, CAEP is housed at 2010 Massachusetts Ave. NW. On July 1 of next year, it will move to its new location, and the 50-percent increase in space will provide CAEP with room to grow it staff over the next few years.
“Given our wish list – having the ability to control a whole floor, in a desirable location and at a certain price point – Dan and his team did a great job of finding the perfect fit for us. They met all of our goals,” says CAEP Chief Financial Officer Thanh Tran. “It's a tough market for an organization with our footprint. Cresa Washington DC represented us extremely well throughout the entire process.”
Klueger and Hixon showed their client a handful of sites in the Dupont Circle submarket, with CAEP leaders ultimately deciding on 1140 19th St. NW, a 72,575-square-foot building owned by Herndon-based American Real Estate Partners, which earlier this year completed more than $10 million in exterior and interior improvements at the nine-story property.
“CAEP is one of the first major tenants at 1140 19th St. NW following its extensive renovations,” Klueger says. “Our client’s new space has a collaborative and open design, several conference areas and a multi-purpose room, as well as floor-to-ceiling windows in the building’s front that provide a strong amount of natural light.”
Since CAEP is the result of two organizations – the National Council for Accreditation of Teacher Education and the Teacher Education Accreditation Council– recently merging, “our client wanted, in its office, a brand that reflects a new entity, rather than two different cultures,” Klueger says.
“The fact that CAEP will occupy an entire floor is an added bonus – creating its own identity right off of the elevators,” he says.
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Portfolio/Lease Administration, Capital Markets, Sustainability, Industrial/Supply Chain and Facilities Management. With more than 55 offices, Cresa is North America’s largest tenant representation firm. Through its partnership with Savills, one of the world’s largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries. Cresa Washington DC exclusively serves tenants through its offices in Bethesda, the District of Columbia and McLean. For more information, visit www.cresa.com.