The New York City-based workplace services company Convene has signed two new deals in Washington, D.C. in the East End and Penn Quarter, totaling 152,000 square feet.
The company will now have four locations in D.C., bringing its total area to 202,000 square feet. The firm was represented by Avison Young in two transactions, while CBRE represented CommonWealth Partners, and Beacon Capital Partners was represented by JLL during negotiations.
After its deal with CommonWealth Partners, Convene will be occupying three floors of Hamilton Square building which was previously the site of the original Garfinckel’s department store.
Last year, after securing over $150 million in financing, the firm has been expanding into the major metropolitan markets. “Both of these assets are excellent additions to the growing Convene portfolio in the region. We believe in the long-term value of these locations and each building offers unique physical characteristics that are hard to replicate in D.C.,” said Michael Burke, VP of real estate and development at Convene.
Convene is opening two new properties in Washington, D.C. These new locations will be Convene’s third and fourth offerings in the D.C. metro area and our first locations in the heart of the nation’s capital. via @Bisnow https://t.co/NhZg9v3vzm
— Convene (@Convene) February 21, 2019
Jonathan Wellborn, principal at Avison Young, added that these distinct properties, both of which are adaptive reuses of former department stores, provide the “ideal setting for Convene’s meeting and workplace customers alike.”
Convene also recently opened a 35,000-square-foot space in D.C.’s tallest building, CEB Tower, in Rosslyn, VA. In 2018, Convene was able to raise $152 million in finance, including investments, among others, from real estate and technology companies like Revolution Growth, RXR Realty, Hines, ArrowMark Partners, Brookfield, and The Durst Organization.