Pioneering construction project is D.C.’s first to feature environmentally-friendly mass timber in a commercial office building 

Over half of new space pre-leased as new headquarters for American Trucking Associations

Columbia Property Trust, Inc. (NYSE: CXP) announced today that it will soon begin construction of a 105,000-square-foot vertical expansion of 80 M Street, a Class-A office property in Washington, D.C. The expansion space will consist of two new floors and a habitable penthouse to be built atop the existing 286,000-square-foot building located in the Capitol Riverfront District.

Columbia also announced that it has pre-leased over half of the new space with a new 60,000-square-foot lease with the American Trucking Associations (ATA). The largest national trade association for the trucking industry, ATA has signed a 16-year lease to move its headquarters out of the Virginia suburbs into two of the new floors at 80 M Street, and plans to occupy its new office in summer 2022.

Pioneering Project will Feature Mass Timber Construction

With this project, 80 M Street has become the first commercial office building in D.C. to feature mass timber new construction. Columbia is pioneering the local commercial use of this cutting-edge building technique, which relies on a composite wood product engineered from hard wood grown in the Pacific Northwest region of the United States. A departure from D.C.’s commodity construction cycle, mass timber construction has been recognized as providing structural integrity and fire resistance that is favorably comparable to steel and concrete construction, but with a lower overall weight load and a lower carbon footprint than these other building methods.

Complementing the project’s environmental attributes, Columbia is working with architect Hickok Cole to design the expansion space at 80 M Street to offer wellness and productivity benefits as well. The new floors will feature 16-foot ceiling heights and 12-foot-high windows – a combination that allows for double the amount of light penetration possible in standard space. Other highlights of the design include exposed ceilings, polished concrete floors, and an abundance of connected outdoor spaces that will add nearly 4,000 square feet of outdoor amenity space atop the building. When completed, 80 M Street’s new top floors should appeal to tenants seeking creative, boutique-style space in the popular Capitol Riverfront neighborhood.

“We’ve experienced terrific leasing results at 80 M Street, bringing the existing building to near full capacity. This was aided by a redesign of the lobby and common areas and reflects the momentum of D.C.’s Navy Yard submarket,” said Nelson Mills, CEO of Columbia Property Trust. “By delivering more than 100,000 square feet of state-of-the-art vertical expansion, we expect to create substantial additional value for our shareholders.”

“For 87 years, ATA has been the leading voice of the trucking industry,” said Chris Spear, President and CEO of the American Trucking Associations. “Our decision to return ATA’s headquarters to our nation’s capital will further amplify that voice and steer decisions that impact trucking. This added presence to our existing Capitol Hill office will take ATA and its agenda to the next level.”

80 M Street is Well Positioned to Serve Innovative Companies

Located adjacent to the home of the world champion Washington Nationals, 80 M Street has been designed to appeal to the new generation of talent that is migrating toward the Capitol Riverfront / Navy Yard neighborhood and making it Washington, D.C.’s fastest growing submarket. Other recent renovations at 80 M Street include a reimagined main lobby and expansive new tenant lounge, which connects via an oversized garage-style door to a large front terrace on M Street.

With this lease, 80 M Street at its pro forma, post-expansion size of 391,000 square feet is 76% leased overall. The building’s 2022 availability will be able to accommodate firm requirements from 20,000 to 90,000 square feet, including the remaining available space within the mass timber expansion, which is anticipated to be ready for tenant build out in 2021.

About Columbia Property Trust

Columbia Property Trust (NYSE: CXP) creates value through owning, operating and developing Class-A office buildings in high-barrier U.S. office markets, primarily New York, San Francisco, and Washington D.C. Columbia is deeply experienced in transactions, asset management and repositioning, leasing, and property management. www.columbia.reit.