First Private Lease Signed for Ronald Reagan Building and International Trade Center in Nation's Capital

GSA # 9418A

June 6, 1997
Contact: Beth Newburger (202) 501-0705
Brian Dacey (202) 842-8620

Los Angeles-based Quarterdeck Investment Partners, Inc., Will Occupy Office This Fall

(WASHINGTON DC) -- The U.S. General Services Administration and Trade Center Management Associates (TCMA) today announced the first private lease for the Ronald Reagan Building and International Trade Center. Quarterdeck Investment Partners, Inc., of Los Angeles, is the first private tenant to sign a lease for the government and private complex at the Federal Triangle on Pennsylvania Avenue, which will house a mix of private offices, federal agencies, conference facilities, exhibit halls, and restaurants.

Quarterdeck Investment Partners, Inc., has signed a seven-year lease for 3,100 square feet and is expected to move into the building this fall. The transaction was brokered by Brendan Owen of CB Commercial, representing Quarterdeck, and Peter Calafiura, Director of Office Leasing at TCMA.

GSA is overseeing the development of the Ronald Reagan Building and International Trade Center, which has more than three million square feet, and has hired TCMA to manage the building's private and public space.

Quarterdeck Investment Partners, Inc., with offices in Los Angeles and Washington, offers investment banking services focusing on the international marketplace for aerospace, information technology and defense. Jon B. Kutler, President of Quarterdeck said, "We believe the Ronald Reagan Building and International Trade Center will become a dynamic and integral site for successfully conducting global business as we move into the next century. The design and purpose of the building and trade center matches perfectly with our business interests and we look forward to a long and prosperous partnership."

Brian Dacey, Managing Director of TCMA, said "Quarterdeck is an important tenant for the Ronald Reagan Building and International Trade Center. It is a model for exactly the type of international and trade-related entities which we want to attract to this world-class center. Businesses such as Quarterdeck will help develop synergies here to create a real working trade center."

The building will open to its first tenants this July when the first of approximately 800 employees of the Agency for International Development and the Environmental Protection Service move into the building. Also moving into the building will be employees of the U.S. Customs Service and the Woodrow Wilson International Center for Scholars.

TCMA is a joint partnership of Urban Retail Properties Company of Chicago and The John Drew Company of Boston. Urban Retail Properties, a subsidiary of Urban Shopping Centers, is one of the nation's largest retail property managers and is recognized as an industry leader in all aspects of property management, leasing, development and marketing. The John Drew Company is a full-service real estate development and management firm which has created and spearheaded the development of projects including the World Trade Center Boston and Bayside Exposition Center.

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