SEC Headquarters Lease

On May 29, 2001 the
Securities and Exchange Commission selected a new location for
its Washington, D.C. headquarters.  The new site will be on the
corner of F and 2nd Streets, NE, adjacent to Union Station and
the Thurgood Marshall Building.  Under the lease agreement, Louis
Dreyfus Properties, LLC, of New York will develop and construct
the building, referred to as Station Place.  The architecture
firm of Kevin Roche John Dinkeloo and Associates, also of New
York, designed Station Place.  The lease is for approximately
650,000 rentable square feet and is for a fourteen year term.
For the entire term of the lease the SEC will pay a flat rate in
the low $40 range per rentable square foot.

     The procurement, awarded after a full and open competition,
provides a long-term lease to continue the SEC’s tenancy in the
District of Columbia.  The SEC currently has employees in two
locations in the District of Columbia, at 450 5th Street and 901
E Street, NW.  The Station Place facility is large enough to
house all SEC employees working in the District and will ease
current overcrowding.   The building is not yet under
construction and is scheduled for occupancy in approximately
three years.

     Spaulding & Slye Colliers represented the SEC in the
competition, through a Memorandum of Understanding with the
General Services Administration, National Capital Region.