WASHINGTON--(BUSINESS WIRE)--Carr Properties announced today that it has signed a lease with WeWork, the global shared workspace provider. WeWork will open a new coworking location at The Wilson, Carr’s landmark development in the heart of Bethesda located at 7272 Wisconsin Avenue, Bethesda, MD 20814, bringing the building, still under development, to 80% leased.
Oliver Carr III, CEO of Carr Properties, comments: “We are thrilled to have WeWork join us as a valued customer at The Wilson. They bring a dynamic and innovative presence to this state-of-the-art development in the heart of Bethesda. I also commend the efforts of the Carr and Transwestern leasing teams to have reached an 80% pre-leased achieved threshold over 12 months in advance of completion of the development.”
Situated in the heart of Bethesda at the prime intersection of Wisconsin Avenue and Elm Street, The Wilson (office) and The Elm (residential) will include 361,000 SF of office space and 456 multifamily units located in three towers all within easy walking distance from Bethesda’s best shops and restaurants. The project will extend up 295 feet from the street and will offer the best views in Bethesda. Additionally, the project is adjacent to the new Bethesda transit station which provides access to the Red Line, Purple Line and the Capital Crescent Trail (the premier hiker/biker trail in the Washington, D.C. Metro area). Along with changing the skyline, The Wilson will change the way people live and work in Bethesda. Greg Lubar, Andy O’Brien, Zach Boroson of JLL represented WeWork. Carr Properties was represented in-house by Spencer Stouffer and Jason Bockenek, and by Phillip McCarthy, Keith Foery, and Cricket Cleary of Transwestern.
About Carr Properties
Carr Properties is a privately held real estate investment trust that owns, manages, acquires, and develops high-quality office properties in Washington, D.C. and Boston, MA. The company currently owns a portfolio of 15 commercial office properties totaling approximately 4.0 million square feet, as well as, a pipeline of five development projects that include: The Wilson and The Elm Development in Bethesda, MD; Signal House in the Union Market area of Washington, D.C.; and One Congress in Boston, MA. Upon completion, these projects will add 2.4 million SF of trophy-quality office space to the company’s portfolio. The company is continuing to expand its portfolio through strategic investments in the Washington, D.C. and Boston, MA areas.