![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Washington REIT | NYSE:WRE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 17.57 | 0 | 01:00:00 |
|
MARYLAND
|
001-06622
|
53-0261100
|
(State of incorporation)
|
(Commission File Number)
|
(IRS Employer Identification Number)
|
•
|
Watergate 600, Washington, DC
: WashREIT is in active lease negotiations with a 51,000 square foot blue-chip tenant for two of the top three floors which comprise approximately 77,000 square feet of space that are currently leased to Blank Rome until January 1, 2019 and subsequently under a master lease until December 31, 2019, if the space is not leased to another party. The Company has re-leased approximately 10,000 square feet of space on the remaining floor currently leased to Blank Rome and upon signing leases covering the top two floors, WashREIT will have leased approximately 80% of the Blank Rome lease expirations at Watergate 600. The Company, therefore, expects only the remaining approximately 16,000 square feet of space to be covered by the master lease through 2019. Separately, the Company expects an approximately 21,000 square foot tenant, whose lease expires on December 31, 2018, to vacate at the end of 2018.
|
•
|
Arlington Tower, Rosslyn, VA:
WashREIT is experiencing strong pre-leasing activity on approximately 60,000 square feet of vacancy expected in mid-January 2019, of which 45,000 square feet is expected to be incorporated into its Space+ flexible leasing program and available for immediate occupancy with lease-up expected in 2019, and the majority of GAAP rent commencement late in the second quarter and third quarter of 2019. Commensurate with the research the Company conducted with Congressional Quarterly that projected an increase in contract awards in the Rosslyn-Ballston corridor, there appears to be elevated activity among small and mid-size office users looking for finished space with immediate availability and flexible terms in Rosslyn.
|
•
|
DC Class B Portfolio:
|
◦
|
Renewals:
WashREIT is currently negotiating to:
|
▪
|
Take back approximately 8,000 square feet on the first floor of 1775 Eye Street to create valuable street retail while completing an early renewal of the remaining 42,000 square feet (scheduled to expire on February 28, 2021) leased to one of its top ten largest tenants, for a term of 11.25 years, at rents that are approximately 5% lower on a GAAP basis and 8% lower on a cash basis.
|
▪
|
Renew the GSA’s approximately 37,000 square foot lease expiring on May 21, 2019, through a re-compete process, for a term of 15 years, at rents that start approximately 28% lower on an initial GAAP basis (excluding annual increases determined on a CPI basis) and approximately 17% lower on a cash basis. The renewal is at 1227 25
th
Street, which is one of three assets in the Company’s portfolio that has space leased to the GSA. Federal government tenants comprised approximately 1.4% of WashREIT’s annualized base rental revenue as of September 30, 2018.
|
▪
|
Renew approximately 31,000 square feet of a 40,000 square foot lease at 2000 M Street scheduled to expire on December 31, 2019 for a term of 5.3 years at rents that are approximately 12% higher on a GAAP basis and 4.5% higher on a cash basis
|
▪
|
Renew approximately 12,000 square feet of retail space at 2000 M Street scheduled to expire on January 31, 2019 for a term of 10 years, at rents that are approximately 57% higher on a GAAP basis and 37% higher on a cash basis
|
◦
|
2019 Lease Expirations:
|
▪
|
As previously disclosed, WashREIT expects the Advisory Board Company to vacate the approximately 19,000 square feet of space that it currently occupies at 1227 25
th
Street on May 31, 2019
|
▪
|
WashREIT expects an approximately 41,000 square foot tenant at 1220 19
th
Street to terminate its lease on August 31, 2019 as the tenant's next phase of expansion is too large for the Company to accommodate. WashREIT is in preliminary discussions with multiple users who are attracted to the vibrant Dupont Circle neighborhood to backfill the space.
|
•
|
Quantico, Stafford, VA:
WashREIT recently leased approximately 16,000 square feet of the 113,000 square feet of vacancy across its two office buildings in Quantico, and has approximately 47,000 rentable square feet expiring at this property in 2019. In addition, the Company has received indications that approximately 9,000 square feet plans to renew, is in negotiations to renew another 29,000 square feet and currently expects a tenant occupying 8,500 square feet to vacate in 2019.
|
|
|
|
WASHINGTON REAL ESTATE INVESTMENT TRUST
|
|
||
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ W. Drew Hammond
|
|
|
|
|
|
|
(Signature)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
W. Drew Hammond
|
|
|
|
|
|
|
Vice President, Chief Accounting Officer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
November 26, 2018
|
|
|
|
|
|
|
(Date)
|
|
|
|
|
|
1 Year Washington REIT Chart |
1 Month Washington REIT Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions