Mortgage Bankers Association gets deal on Dupont Circle HQ lease renewal

The Mortgage Bankers Association has renewed its headquarters lease at 1919 M St. NW in D.C., and negotiated a lower price for the renewal.

The MBA occupies the fifth floor of the eight-story building at 20th and M streets, near Dupont Circle. It renewed a lease through 2035 for roughly 35,000 square feet.

1919 M Street in Northwest D.C. (Courtesy JBG Smith)

Avison Young negotiated terms for MBA, including reducing MBA’s annual rent costs by more than $4.2 million before its scheduled lease expiration in 2025.

The landlord will also fund substantial renovations for its offices, modernize building systems and add an expanded, tenant-only conference center.

1919 M Street was built in 1967. The 274,000-square-foot building was last renovated in 2000. Roughly 125 MBA employees work at the headquarters location.

The MBA sold a former headquarters building at 1331 L St. NW in 2010, just two years after moving into the newly completed building. The sale came as the commercial real estate market in D.C. crashed during the Great Recession.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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