Sheppard Law Firm Signs 107,224 SF Office Lease in Downtown D.C.
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Washington office has been a leading conversion market in the cycle, with multiple downtown Class B assets entering office-to-residential programs in the last twelve months. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 64th Washington story tracked on the wire in August 2026. All Washington coverage →
- Disclosed office deal value tracked in August 2026: $15.6B across 58 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
WASHINGTON, D.C. — Sheppard, a law firm that employs more than 1,200 lawyers nationally, has signed a 107,224-square-foot lease at 2033 K Street, a trophy office redevelopment project in downtown Washington, D.C. Dimi…
External link. Real Estate Trail does not republish source content.
Related coverage — Washington · Office
Sheppard Takes 107K SF at In-Rel’s D.C. Redevelopment
One of the 50 highest-grossing law firms in the U.S. has signed an anchor lease at a planned Washington, D.C., trophy office redevelopment three years before its anticipated completion. Law firm Sheppard signed for 10…
Finmarc Purchases Twin Office Towers in Northern Virginia for $77.5M
MCLEAN, VA. — Bethesda, Md.-based Finmarc Management Inc. has completed its $77.5 million purchase of Highline at Greensboro, an office campus in Northern Virginia’s Tysons Corner submarket comprising twin 10-story of…
Airbnb commits $1 million to environmental protection in Washington
Airbnb's $1M Washington State commitment funds national park nonprofits, Leave No Trace partnerships, and sustainable forestry projects, plus a volunteer incentive offering $100 in Airbnb credit.
Op-ed calls for stronger means testing, service limitations for Social Security, Medicare
Washington Post outlines a plan to control costs without significant program cuts
Cushman & Wakefield Arranges $250M Refinancing for 506-Unit Seattle MF
Cushman & Wakefield has arranged a $250 million refinancing for Museum House, a newly completed 506-unit multifamily community in Seattle, Washington. The Cushman & Wakefield Equity, Debt & Structured Finance team of…