Ronald Reagan Presidential Foundation and Institute
Project Type: HQ Acquisition, Build-Out
Space Use: Corporate Office, Exhibit, Event, Meeting
Location: Washington, D.C.
Size: ~30,000 SF
Services Provided: Strategic Planning, Site Selection and Acquisition, Design and Construction Project Management, Leasing Expansion Space
The Ronald Reagan Presidential Foundation and Institute (“RRPFI”), an organization dedicated to continuing President Reagan’s legacy and promoting principles like individual liberty, economic opportunity, global democracy, and national pride, engaged JM Zell Partners, Ltd. to serve as its real estate consultant, broker, and construction project manager with the goal of acquiring a headquarters facility in close proximity to The White House.
RRPFI’s desired location near the White House proved to be a challenging requirement in 2016 due to minimal available inventory and a historically low turnover rate for commercial space close to the seat of power. Additionally, a dynamic space was necessary that could accommodate RRPFI’s various uses including education, exhibition, event hosting, and administrative offices. JM Zell, through its unique lens, was able to identify suitable space within an existing office building at 888 16th Street, NW, which had recently been acquired by an office investor/developer and was not listed for sale. JM Zell then convinced the investor/developer to forgo its plans for the space and sell a portion to RRPFI.
Once JM Zell identified the opportunity, we vetted and assembled a team of 3rd party consultants to develop a test-fit and conceptual space program to ensure the space would meet RRPFI’s operational goals. Simultaneously, JM Zell analyzed the costs and benefits of leasing versus owning, specifically considering certain tax, not-for-profit status and other legal implications. With JM Zell’s information and guidance, RRPFI was able to gain consensus among decision makers to support long-term ownership.
JM Zell proceeded to negotiate a complex tri-party condominium regime among the office unit investor, Motion Pictures Association (another unit owner), and RRPFI to govern RRFPI’s acquisition of an advantageous condo interest in 888 16th Street, NW.
The condominium agreement provided RRPFI the rights to create its own high profile landscaped entrance, exclusive courtyard use for donor recognition and special events, two-story high lobby connecting the first and second floors, base building exterior and interior branding/signage, separate 850 16th Street address, parking, fitness center, rooftop terrace and conference center use rights.
JM Zell’s in-house construction experts orchestrated the design, permitting and construction management efforts and delivered the project on time and on budget. The scope included securing Historic Preservation Office approval to encroach upon public open space for the new entry plaza, slab removal to create a two-story lobby, and state-of-the-art audio/visual systems for the lobby display screen, classrooms, board room, 125-seat event space, green room, podcast studio, retail, and Presidential collections display areas and controlled storage space. With its unique team structure, JM Zell ensured a seamless process for RRPFI, providing a single point of contact from project initiation to ribbon cutting. This approach streamlined internal project management and consistently addressed and achieved RRPFI’s goals.
Several years after opening, RRPFI required expansion space for the formation of the new nonpartisan Center on Public Civility to promote constructive solutions to address the deep divisions and discord in America. JM Zell orchestrated the negotiation and lease documentation for space on the third floor at 888 16th Street, NW, providing vital office and conference space with direct access to the Institute’s operations on floors 2 and 1.
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