Newmark Named Exclusive Leasing Agent at Taicoon’s DC and Virginia Office Properties

March 13, 2025 9:00 AM

Newmark announces the company has been awarded the exclusive leasing assignments for Taicoon Property Partners’ office assets, 1899 L Street NW (“1899 L”) in D.C. and 1501 Langston Blvd. in Northern Virginia. Ownership selected newly appointed Newmark Vice Chairman Doug Mueller to lead leasing efforts at the properties, which total 236,422 square feet.

“Doug’s immediate traction in the market speaks to the caliber of leadership and expertise we possess at Newmark—advisors who create momentum, drive leasing activity and position assets for success,” said Allison DiGiovanni, Executive Vice President and Mid-Atlantic Region Market Leader. “1899 L and 1501 Langston exemplify how the synergy between our platform and a strategic, results-driven approach translates into measurable success.”

1899 L is a 152,000-square-foot, LEED Gold-certified office building prominently situated at the corner of 19th and L Streets NW. Since acquiring the asset in March 2024, Taicoon has launched a multi-million-dollar capital improvement program, modernizing the property to align with evolving tenant demand and market dynamics.

“With the basis reset came a compelling opportunity to reimagine our investment strategy, deploying significant capital into value-add office assets to unlock their full potential,” said Suzanne Pyles, Managing Director at Taicoon. “Our reinvestment in 1899 L reflects this approach—a long-term commitment to a well-located property in a strengthening market, where forward-thinking investors are positioning for future demand.”

The capital improvement program, currently underway, includes significant base-building upgrades, the development of prebuilt and speculative office suites and a partial floor amenity center. The property’s prime location along the highly amenitized 19th Street corridor, combined with immediate proximity to multiple Metro lines, makes it a highly sought-after office environment for tenants seeking a central, transit-rich workplace.

Additionally, Mueller will advise ownership in leasing efforts at 1501 Langston Boulevard, an 85,422-square-foot office building that is currently in an interim leasing phase, prior to its planned residential conversion. Ownership has engaged Newmark to maximize occupancy while the long-term repositioning strategy is finalized, ensuring continued value creation throughout the transition.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.