One of the District's largest leases in the past several years was signed last week when the Federal Home Loan Bank Board and its division, the Federal Savings and Loan Insurance Corp., leased the 302,676-square-foot building at 801 17th St. NW. The move is a consolidation and expansion for the bank board, a spokesman said.
Employes from the agency's 1735 I St. NW offices and from its overcrowded main building at 1700 G St. NW will be moved to the newly leased building. The bank board began looking for new space in March, its leasing agent said. "It was a large requirement that had to be met in a fairly short time," said Phyllis Alexander of Smithy-Braedon, who negotiated the lease for the agency. "There are not many locations this large near G Street. If they hadn't gotten it, they probably would have had to lease two other sites."
As a result of the lease, the bank board will be housed at only two locations, 1700 G St. and 801 17th St. The length of the new lease is 15 years.
The building at 801 17th St., which is owned by the Lafayette Limited Partnership, was constructed in the early 1970s, and had been leased since then by the Inter-American Bank, which consolidated its different locations some months ago by relocating to 1300 New York Ave.
In other developments in commercial realty: Jackson and Campbell, a law firm, leased 20,906 square feet at Lafayette Center, 1120 20th St. NW. from Farr-Jewett.
Prudential-Bache Securities Inc. leased 18,397 square feet at 1130 Connecticut Ave. NW for 10 years from the 1130 Connecticut Avenue Limited Partnership.
Acumenics Research and Technology leased 12,420 square feet at 1400 Eye St. NW.