Transwestern Represents Building Owner JBG SMITH in Transaction Transwestern today announces it has negotiated a 19,300-square-foot lease with Spaces, which provides offices, co-working spaces and meeting rooms, at Chase Tower, located at 4445 Willard Ave. in Chevy Chase, Maryland. Transwestern’s Phil McCarthy, Keith Foery and Mark Boyce represented property owner JBG SMITH in the transaction. “Chase Tower is a vibrant mixed-use environment with ample restaurant and retail options at its doorstep,” said McCarthy. “Chevy Chase is an excellent location for Spaces, as it boasts one of the highest concentrations of professional and financial service firms in the Washington metro area and attracts a highly educated and diverse workforce.” The building is one block from the Friendship Heights Metro Station, on the Red Line, and it is surrounded by a variety of retail amenities including Whole Foods Market, Lia’s, Starbucks, Sushiko, Capital Grille, J. Crew, Bloomingdale’s and Neiman Marcus. This will be Spaces’ third location in the Washington, D.C., metro area, with operations in the District’s NoMa neighborhood and another location slated to open in Arlington, Virginia’s Rosslyn neighborhood in November 2017. Spaces, which was represented by Mia Eglinton from JLL in the transaction, originated in Amsterdam and is a subsidiary of Regus. ABOUT TRANSWESTERN Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.
Office-sharing company Spaces has secured a deal to take over a 19,300 sq ft lease at Chase Tower, in Chevy Chase, Maryland. The move is the latest sign of growing interest from major US banks and financial firms in leasing office space for their own use. The Chase Tower is owned by property firm JBG Smith, and the deal with Spaces was negotiated by real estate firm Transwestern.