Hines has signed a new lease with national non-profit organisation American Hospital Association (AHA) in Two CityCenter at the mixed-use CityCenterDC development in Downtown Washington, DC.
CityCenterDC is one of the largest downtown developments currently underway in the US.
CityCenterDC is a development of Hines and The TFI US Real Estate Fund. The anchor investor in the Fund is Qatari Diar Real Estate Investment Company, the real estate investment arm of the Qatar Investment Authority. The fund is advised by Tanween, a Qatari real estate development management and consulting firm.
The AHA will occupy approximately 42,000 square feet when it moves into its new space in September 2014. The AHA was advised on the transaction by Studley, Inc. Founded more than a century ago, the AHA is a non-profit organisation representing more than 5,000 hospitals, health care systems, networks, other providers of care and 42,000 individual members. The AHA provides education for health care leaders and is a source of information on health care issues and trends.
With the execution of this new lease, the office buildings One and Two CityCenter are now just over 83 per cemt leased with additional pending commitments. CityCenterDC previously announced a 420,000-square-foot, 20-year lease with renowned law firm Covington & Burling.
"We determined early on that the newly constructed building infrastructure at CityCenterDC would be the best fit to meet the needs of our members and staff," says John Evans, AHA senior vice president and chief financial officer. "The new space will allow us to continue to provide our members with the highest quality of service and the new building will offer additional resources to work with our members and staff."
"The success of our office leasing campaign validates our vision for CityCenterDC," says Howard J Riker, managing director of Hines. "Our office tenants will benefit from and contribute to the creation of a vibrant blend of office, shopping, dining, residential and cultural spaces and experiences. As we continue the sales of our remarkable condominium residences, we are confident that home buyers will respond to our offering with the same enthusiasm and shared vision we have experienced in our office leasing campaign."