USAID HQLocation: 500 D Street, SW
Washington, D.C. Owner / Client:
United States Agency for International Development
United States Agency for
International Development (USAID)
500 D Street, SW, Washington, D.C. 20024
Awarded on March 2018
348,173 RSF / 20 year firm term
Wow Factors: Building vacant for 2 years; Lincoln closed the deal in 18 months: sourced, participated in Procurement, and Negotiated
Lincoln led and represented ownership in this complex, Prospectus-level, consolidation procurement of a 348,173 rent-able square foot lease for the United States Agency for International Development (USAID) at 500 D Street, S.W., Washington, D.C.
USAID required the acquisition of a leased location to consolidate existing USAID operations throughout Northern Virginia and Washington DC. Each location had differing lease expirations, requiring significant coordination with the tenant agency and a strict lease acquisition schedule.
Even though the minimum requirements were complex and extensive, Lincoln was able to formulate and negotiate an above-market rent for the existing asset as evidenced by the $49.75 per RSF rental rate for years 1 – 10 with $1.50 per RSF rent bumps in years 11 and 15.
Other rental concessions included rent abatement for sixteen (16) months and a cash allowance of $12,990,503 to be utilized for tenant build out and security. Any amount of cash allowance not spent within 24 months of lease commencement shall be converted to shell rent abatement.
The lease was awarded on March 2018 to an existing building located at 500 D Street, S.W., Washington, D.C. Anticipated GSA acceptance of space is scheduled for 1st quarter 2020.