NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) today announced that Associated Builders and Contractors, Inc. recently signed a 12-year lease renewal for 17,823 square feet at 440 First Street, NW in Washington, DC.
The property is a 141,576 square foot, 10-story, Class-A office building with modern amenities such as a fitness center, conference facility and rooftop terrace. Conveniently located in the Capital Hill neighborhood, 440 First Street is within walking distance of numerous dining and retail options, government offices and the Green and Yellow Metro lines.
The property is owned by Office Properties Income Trust (Nasdaq: OPI) and managed by The RMR Group. The RMR Group is responsible for providing all aspects of management services and strategy for more than 1,400 properties with over 97 million square feet of commercial office, industrial, medical office, life science and retail space.
OPI was represented by Nathan Beach, Evan Behr and Doug Mueller of JLL. Associated Builders and Contractors, Inc. was represented by Eric West of West, Lane & Schalger and Mindy Saffer of Cresa.
About The RMR Group Inc.
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned operating subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate related operating companies. As of December 31, 2019, The RMR Group LLC had $32.2 billion of total assets under management, including more than 2,100 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had nearly 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
About Office Properties Income Trust
Office Properties Income Trust is a real estate investment trust, or REIT, focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics like government entities. OPI is managed by the operating subsidiary of The RMR Group Inc.