AdvantEdge Workspaces Operates Two Locations in Nation’s Capital
A local coworking space company that has provided shared workspace in the Washington, D.C., area for more than three decades has signed a long-term extension for one of its two D.C. locations.
AdvantEdge Workspaces finalized a deal with Clarion Partners to renew its 51,268-square-foot lease at Chevy Chase Pavilion, where the company has maintained a location since 1990 when it operated under the name Chevy Chase Executive Services, Inc., and two years after it was founded as Washington Executive Services, Inc. The renewal will keep AdvantEdge in the building through 2030.
AdvantEdge was one of the first companies in the Washington area to adopt the shared office model, which in recent years has exploded in the nation’s capital and across the U.S. as young entrepreneurs and startup companies seek the collaborative urban office space, cheaper rental rates and flexible lease terms that shared workspace provides.
In May, WeWork – arguably the most well-known shared workspace provider in the country – became the largest private office tenant in Washington with more than 600,000 square feet leased in the area. The company has signed three more leases in the market since then.
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Industrious, MakeOffices, Spaces, MindSpace and Cove, all flexible workspace providers, also all operate locations in the Washington area.
AdvantEdge’s space in the Chevy Chase Pavilion places prospective tenants atop the Friendship Heights Metro station in a Class A mixed-use environment home to a nine-story office tower, an Embassy Suites hotel and three floors of shops and restaurants anchored by World Market, H&M, Old Navy, Maggiano’s and The Cheesecake Factory.
AdvantEdge’s suites on the fourth, sixth and ninth floors of the office tower at 5335 Wisconsin Ave. NW offer fully furnished, configurable office space; conference and meeting rooms; and reception and concierge services. The company, which was one of the original tenants at Chevy Chase Pavilion following the building’s completion in 1988, also operates a location at 2101 L St. NW in downtown Washington.
For the record:
Tony Bolino of CBRE negotiated the renewal at Chevy Chase Pavilion for AdvantEdge Workspaces, while Bobby Schwartz, Matt Sullivan and Kirsten Ryan of Cushman & Wakefield’s agency leasing team represented Clarion Partners. Cushman & Wakefield also manages the property.