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WEST, LANE & SCHLAGER REALTY ADVISORS NEGOTIATES 74,000-SQUARE-FOOT HEADQUARTERS LEASE EXPANSION AND EXTENSION FOR PEW RESEARCH CENTER IN D.C.

May 13, 2014 (Washington, D.C.) – West, Lane & Schlager Realty Advisors, LLC, a Washington, D.C.-based commercial real estate brokerage firm that exclusively represents tenants, announced today that it has completed a 74,000-square-foot headquarters lease renegotiation and expansion on behalf of Pew Research Center at 1615 L Street, NW.

West, Lane & Schlager Principal Eric West, LEED AP, and Senior Vice President Ganon Rich represented Pew Research Center, a nonpartisan fact tank that conducts public opinion polling, demographic research, media content analysis and other empirical social-science research.

Pew Research Center has expanded twice since moving its headquarters to 1615 L Street in 2004. The organization’s considerable growth plans and its approaching lease expiration in November of 2016 motivated Pew Research Center to consider its real estate situation. Consequently, West, Lane & Schlager has been working on a viable long-term real estate solution for its client for the past 18 months.

West and Rich extensively explored the market, providing a wide variety of strong alternatives from numerous landlords looking to secure Pew Research Center’s tenancy.

West emphasizes, “In the end, its current space at 1615 L Street provided the most favorable financial terms and expansion rights while resolving our client’s real estate issues in 2014 – not 2015 or 2016 – with the least amount of disruption to the organization’s work force.”

“West, Lane & Schlager has represented the Pew Research Center for 10 years,” says Alan Murray, the organization’s President. “They are a great partner, always looking out for our interests, and have been critical in helping us plan for a period of strategic growth.”

Pew Research Center’s existing and expansion space is currently being renovated, and the organization has temporarily re-located to another floor at 1615 L Street. Once construction of its space is complete in November of 2014, Pew Research will occupy two full floors at 1615 L Street.

As a part of this 14-year, one-month lease transaction, Pew Research Center is expanding by 29,000 square feet. West explains, “Through our aggressive negotiations, we extended Pew Research Center’s existing lease and allowed it to expand at this moment, while obtaining a significant reduction in our client’s rental rate.”

About West, Lane & Schlager Realty Advisors, LLC:

Washington, D.C.-based West, Lane & Schlager Realty Advisors, LLC is a leading commercial real estate brokerage firm that exclusively represents tenants in the Washington, D.C. Metropolitan Area. Clients of West, Lane & Schlager include professional services companies such as law firms, as well as nonprofit organizations and trade associations. Services provided by West, Lane & Schlager are tenant representation, investments, construction management, strategic planning, and operating-expense reviews. For more information on West, Lane & Schlager, please visit www.wlsrealty.com.

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