Washington, DC (January 6, 2014) — Douglas Development Corporation announced today that it has executed a 32,172 sq. ft. lease with Youth For Understanding USA (YFU) at the historic Wonder Bread Factory at 641 S Street, NW, making the 80,000 sq. ft. building nearly 80% leased.
Evan Behr, Doug Mueller, and Julia Davis of Jones Lang LaSalle represented the landlord in the transaction. Brian Schmergel and Bill Zonghetti of Newmark Grubb Knight Frank represented the tenant. YFU will occupy the second floor and lower level of the building in the fall of 2014.
The lease with YFU comes just three months after Douglas Development finalized a 32,903 sq. ft. lease with WeWork at the same building. Originally built in 1913, Douglas Development’s newly redeveloped Wonder Bread Factory building offers 80,000 sq. ft. of class A loft-style space. The four-story property includes private terraces, underground parking, tall wood beam ceilings, large industrial windows, exposed brick and wood beam ceiling system, and an abundance of natural light.
YFU is one of the world’s largest and most respected educational exchange organizations. Since 1951, it has advanced intercultural understanding, mutual respect, and social responsibility through educational exchanges for youth, families and communities. The YFU global network, consisting of partners in more than 60 different countries, is united by the belief that full cultural immersion is the most effective means to gain the skills needed to thrive in an increasingly interconnected and competitive global society.
“Youth For Understanding USA is a world-class organization,” said Douglas Development principal Norman Jemal. “We are proud to have them at the Wonder Bread Factory.”
To learn more about the Wonder Bread Factory, visit its website at http://douglasdevelopment.com/case-studies/the-wonder-bread-factory/.
Douglas Development Corporation, a fully integrated real estate company, is among largest private property owners in the Washington, DC region. The company has completed more than 180 successful redevelopment projects and is a leading force in the revitalization of the District of Columbia. Currently, Douglas Development owns and manages more than 8 million square feet of real estate and has more than 4 million square feet of developable property in the pipeline. Founded by Douglas Jemal in 1985, the company has a passion to preserve and redevelop historic buildings including iconic properties like the Woodward & Lothrop flagship building and Chinatown’s historic row across from the Verizon Center. For more information about the company visit us online at: www.DouglasDevelopment.com