The RMR Group Announces Completion of 20 Mass Redevelopment; Project Wins NAIOP DC|MD’s Best Renovation Award
16 Ottobre 2023 - 2:00PM
Business Wire
New Mixed-Use Property Features Class A Office
Space, Luxury Sonesta Hotel and First Class Amenities
The RMR Group (Nasdaq: RMR) today announced the completion of a
redevelopment project at 20 Massachusetts Avenue NW (“20 Mass”) in
Washington, D.C. and recognition of the project for Best Renovation
by NAIOP DC|MD.
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Christopher
Bilotto, Executive Vice President of The RMR Group, made
the following statement:
“We are honored by the recognition from NAIOP
MD|DC for best renovation in the market for our recently completed
20 Mass redevelopment. This successful conversion of a former
government office building into a Class A mixed-use destination is
the culmination of significant efforts by RMR, its client Office
Properties Income Trust, and the redevelopment project team. We are
proud to add this distinctive property to The RMR Group’s extensive
portfolio in the greater Washington, D.C. area.”
NAIOP DC|MD recognized 20 Mass for Best Renovation at the
association’s recent annual Awards of Excellence Gala, which honors
outstanding achievement in commercial real estate. The Best
Renovation category recognizes creative building programming,
design and construction in redevelopment projects throughout
Washington, D.C. and surrounding Maryland counties.
The reimagined 20 Mass includes 13,800 square feet of retail,
the recently opened 274-key luxury Royal Sonesta Washington, D.C.
Capitol Hill hotel, 183,000 square feet of premier upper level
office space and a 14,500 square foot penthouse amenity space with
views of the Capitol. Positioned at the intersection of
Massachusetts Avenue and F Street NW in the prestigious Capitol
Hill neighborhood, 20 Mass is adjacent to Union Station, a major
regional transit hub. 20 Mass also offers direct access to upscale
dining, world class museums and landmark buildings including the
United States Capitol and Supreme Court of the United States.
The property is 54% leased to Sonesta International Hotels
Corporation (Sonesta), which opened The Royal Sonesta Washington,
D.C. Capitol Hill hotel in September 2023. As the first luxury
hotel to open in Capitol Hill in nearly 40 years, the hotel
features 274 guest rooms that are some of the largest in the city,
with an average room size of 480 square feet. KNEAD Hospitality +
Design debuted its new 200 seat French restaurant Bistro Du Jour on
the hotel’s main level with a stylish bar and lounge and outdoor
café serving breakfast, lunch, dinner, weekend brunch and happy
hour.
As a LEED Gold and WELL certified property, 20 Mass was
redesigned to integrate sustainable and tech forward components
that benefit hotel guests and office tenants. A new glass curtain
wall façade and 10-story atrium cut into the existing structure
bring in natural light while a green roof features
drought-resistant planting and an integrated stormwater management
system. Wellness amenities in the building include an on-site
fitness facility with Peloton bikes and adjoining yoga studio as
well as water refill stations and EV charging stations in the
garage. The property also offers tenants multiple conference
centers with private terraces, multipurpose meeting rooms and a
tenant experience app providing a mobile concierge and touchless
systems.
Amy
Bowser, Executive Vice President of
CBRE made the following statement:
“20 Mass is a unique mixed-use destination in
Washington D.C. Office tenants will experience hospitality rich
amenities which distinguish 20 Mass from other buildings in the
market. While the top four office floors are ideal for larger
tenants, the floorplates can be configured to accommodate
organizations of varying sizes.”
The property is owned by Office Properties Income Trust (Nasdaq:
OPI) and managed by The RMR Group. RMR provides asset and property
management services nationwide for more than 1,500 properties with
over 120 million square feet of office, industrial, medical office,
life science and retail space. RMR exclusively provides property
management services to its client companies and does not offer
standalone property management services to third-parties.
The 20 Mass redevelopment was designed by architectural firm Leo
A. Daly and constructed by DPR Construction. CBRE is the exclusive
office leasing broker at 20 Mass, while JLL is responsible for
retail leasing. For more information, please visit
www.20Mass.com.
About The RMR Group
The RMR Group is a leading U.S. alternative asset management
company, unique for its focus on commercial real estate (CRE) and
related businesses. RMR’s vertical integration is supported by over
600 real estate professionals in more than 30 offices nationwide
who manage approximately $36 billion in assets under management and
leverage more than 35 years of institutional experience in buying,
selling, financing and operating CRE. RMR benefits from a scalable
platform, a deep and experienced management team and a diversity of
direct real estate strategies across its clients. RMR is
headquartered in Newton, MA and was founded in 1986. For more
information, please visit www.rmrgroup.com.
About Office Properties Income Trust
Office Properties Income Trust (Nasdaq: OPI) is a national REIT
focused on owning and leasing high quality office and mixed-use
properties in select growth-oriented U.S. markets. As of June 30,
2023, approximately 63% of OPI's revenues were from investment
grade rated tenants. OPI owned and leased 155 properties as of June
30, 2023, with approximately 20.8 million square feet located in 30
states and Washington, D.C. In 2023, OPI was named as an Energy
Star® Partner of the Year for the sixth consecutive year. OPI is
managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative
asset management company with approximately $36 billion in assets
under management as of June 30, 2023, and more than 35 years of
institutional experience in buying, selling, financing and
operating commercial real estate. OPI is headquartered in Newton,
MA. For more information, visit opireit.com.
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Christopher Ranjitkar Vice President, Marketing & Corporate
Communications (617) 219-1473
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