The RMR Group Inc. (Nasdaq: RMR) announced that the General Services Administration (GSA) recently renewed two leases at 625 Indiana Avenue, NW in Washington, DC, for a total of 29,071 square feet. One lease renewed by the agency was for eight years for 14,598 square feet, and the other was for 15 years for 14,473 square feet.
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The property is a 160,897 square foot 11-story office building offering a fitness center and parking. Located in the heart of Washington, D.C. a short walk to the Verizon Center and a block from Pennsylvania Avenue, the property provides easy access to three Metro stations within a quarter-mile.
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 1,300 properties with over 93 million square feet of commercial office, industrial, medical office, life science and retail space.
OPI was represented by Scott Johnston of Cushman & Wakefield.
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 March 31, 2020, The RMR Group LLC had $32.0 billion of total assets under management, including more than 2,100 properties, and employed over 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.
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