Perkins And Will Leases Office Space In Washington From Bernstein Management Corporation
1222 22nd St NW, Washington, DC, 2...
Building Size
14,317 SF
Asset Type
Office
Closing
Nov 1, 2019
AI
The office property located at 1222 22nd St NW in Washington, DC, boasts a spacious 14,317 square feet. This property was recently leased in a transaction dated November 1, 2019. Perkins and Will, represented by Sally Wilson of Newmark, secured the lease with the landlord, Bernstein Management Corporation, whose representative was Laurie McMahon from Cushman & Wakefield.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Perkins and Will
- Tenant's Rep: Sally Wilson (Newmark)
- Landlord: Bernstein Management Corporation
- Landlord's Rep: Laurie McMahon (Cushman & Wakefield)
- Address: 1222 22nd St NW, Washington, DC
- Market: Washington
- Square Feet: 14,317
The leasing deal for this office property signifies a successful agreement between Perkins and Will, a renowned tenant in the Washington market, and Bernstein Management Corporation, a key player in the real estate industry. Sally Wilson from Newmark and Laurie McMahon from Cushman & Wakefield played pivotal roles as the representatives for the tenant and landlord, respectively, ensuring the smooth execution of this lease transaction.
Washington Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93