Jan. 23, 2014 - Globe St.com

WASHINGTON, DC-Rockrose Development has signed a tenant for 1776 Eye St., a building that has recently undergone a major design upgrade. The tenant isObsidian Analysis and the lease is for 15,953 square feet. But Rockrose says it isn’t done yet. The lease, according to a comment Justin Elghanayan, Rockrose president, made in a prepared statement “heralds a number of new deals that we expect to sign in the near future.”

Obsidian Analysis will relocate its present downtown headquarters at 1000 Connecticut Ave. to occupy almost the entire fourth floor at 1776 Eye St., where asking rents are now in the $65 per square foot range. When it acquired the building, lease space was in the mid 50s per square foot range.

Elghanayan also said the Obsidian lease is “solid evidence that 1776 Eye Street now competes with the highest level trophy buildings in downtown Washington.” Other tenants in the building include Ericsson, Conoco, Fujitsu, Noble Energy, Dow Chemical and Macroeconomic Advisers.

Rockrose was represented by Will Stern, Eli Barnes, Richard Tonner and Kate Oelschig ofCassidy Turley. Bill Zonghetti, Larry Bank and David Hardcastle from Newmark Grub Knight Frank represented Obsidian Analysis.

Rockrose acquired 1776 Eye St. in 2012 and immediately set about renovating the building, which had just lost its anchor tenant. Rockrose added a two-story frameless glass entrance to the building and built a new lobby that features Pei Tan’s glowing ‘glass light fins’ and 30-foot-high ceilings.

Rockrose is also constructing a rooftop terrace with a basketball court.

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