World Resources Institute Expands In DC's NoMa
Savills Studley advises the global research organization in lease restructure
Washington, DC (October 4, 2014)  

To accommodate growth, the World Resources Institute (WRI), a global research organization, has signed a lease to extend and expand at 10 G Street, NE, in Washington, DC’s, NoMa submarket. Savills Studley, the leading global commercial real estate firm specializing in tenant representation, advised the organization in the 65,609 square foot lease restructure.

“We’ve grown rapidly in recent years and needed more space. We considered moving but decided that renovating and expanding in the same building we have been in since the 1990s was the best solution for us to accommodate more staff and better meet our mission,” said Steve Barker, WRI Chief Financial and Administrative Officer. “Sustainability is central to our mission and this is reflected in our offices. We hope our space and practices will serve as a model for others who are concerned about the future of the planet.”

The World Resources Institute currently occupies the 8th floor and a portion of the 7th floor. The organization’s Washington office will expand by approximately 14,000 square feet to fully occupy both floors once the renovations are completed.

According to Savills Studley Executive Vice President Tom Fulcher, who advised WRI and negotiated the transaction on WRI’s behalf, the team considered a number of possibilities, including relocation, to accommodate WRI’s growth and long-term goals. “After evaluating all the alternatives, including several relocation options, expanding at 10 G Street NE was really the best decision for WRI. Not only will they enjoy additional space on the 7th floor, but they have the flexibility to expand again as they continue to grow. Being in close proximity to Union Station with access to multiple forms of transportation is also a real advantage for their organization.”

The Savills Studley team included Executive Vice Presidents Tom Fulcher and Art Greenberg. Senior Managing Director Steve Tassi is serving as Project Manager for the expansion and renovation construction.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

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