VA LEASES 285,000 SQUARE FEET AT RENOVATED DC OFFICE BUILDING

WASHINGTON, D.C. — The U.S. Department of Veterans Affairs has signed a long-term lease for 285,000 square feet of office space at 425 Eye St. in Washington. Paramount Group owns the seven-story, 370,000-square-foot structure and recently completed a renovation and repositioning program for it. The Class A building is currently under review for LEED-Gold certification.

“In 425 Eye Street, we took a Class B property in the up-and-coming Mount Vernon Triangle neighborhood and executed a rigorous capital improvement program that positioned it among the most desirable and environmentally conscious Class A office facilities in the district.” said Albert Behler, president and CEO of Paramount, in a statement.

Paramount is no stranger to green building. In 2006, the company developed, and later sold, the nearby 1331 L Street, which is also presently under review for LEED-Gold certification. In its hometown of New York City, the company's property at 900 Third Ave. is expected to be LEED certified by early 2011.