ULI Global Office Headquarters Case Study Patrick L. Phillips Global Chief Executive Officer Urban Land Institute
Background and the Idea The ULI organizational evolution ULI work activity The previous space Assembling a team
The Goals for the New Space Reflect the brand and mission of ULI via location and design Leverage dialogue among staff and members, and cultivate leadership Serve as a destination for members Foster communication and collaboration Offer choice and variety in work settings Create a flexible space allowing ULI to remain agile
Unique Opportunity
The Market and the Building A soft DC office market in 2014-15 Location preferences: downtown, metro access Looked at around 40 buildings, narrowed to 12 2001 L Street location chosen, featuring: Metro access for red, blue, orange, silver lines Central location, but not too far from previous location High-energy level district
The Market and the Building
2001 L Street NW
Building History and Features Built in 1985, renovated in 2013-14 Corner building with windows on three sides Lower floors—levels 2 and 3—available Reasonable rent Opportunity to be lead tenant Last space to be leased prior to owner sale of building
2001 L Street Space 167,000 sq ft building 10 floors Typical floor size of 16,700 sq ft Floors square in shape ULI space 33,481 sq ft Two full floors Two existing stairs between floors
The Lease Rent of $50 per sq ft 2.5% annual rent increase 15 year lease 5 year renewal option One year free rent Tenant improvement allowance of $111 per sq ft
Development Timeline Development timeline Strategic planning began Strategic planning began Fall 2013 Cushman & Wakefield retained as broker/adviser November 2013 Studios Architecture retained for design services Spring 2014 Building/space selected December 2014 Preconstruction design began February 2015 Building lease signed Spring 2015 Hitt Contracting retained for construction Construction began January 2016 ULI moved in May 2016
Arrival Atrium
Level 2 Café and Member Area
The Level 3 Café and Kitchen Area
Variety of Work Settings
Quiet, Library Style Spaces
Some Private Office Rooms
Large Work Table Areas
Rear Hallway and Library Area
Fourteen Meeting Rooms
Condeco Room Booking System
Lockers for Laptop/Personal Storage
The Construction Budget
Tenant Improvement Allowance
Thanks to our Team Cushman & Wakefield Studios Architecture Hitt Contracting Lutron Steelcase TransitScreen
New Space, New Culture