An alternative energy company is planning to expand its footprint less than a mile from its current office in Bethesda, Md., the Washington Business Journal reports.
Enviva Partners signed a 80,000-square-foot lease at 7272 Wisconsin Avenue, sources told WBJ. The firm is currently located at 7200 Wisconsin Avenue, where it takes up 60,000 square feet of space. That lease is set to expire in 2024.
The publicly traded company turns wood fiber, a natural resource, into wood pellets and sells them to buyers in the United Kingdom and Europe, according to its website. The firm owns and operates six plants that collectively produce nearly three million metric tons of wood pellets per year in Virginia, North Carolina, Mississippi and Florida.
An Enviva spokesman told CO that he cannot comment on the firm’s long-term location plans at this time, “but we are excited about the company’s growth and are proud to be a part of the Bethesda business community.”
Rich Rhodes and Aaron Berkey of Cresa represented Enviva in the new lease, according to WBJ. They did not return Commercial Observer’s request for comment. Asking rents were not immediately available.
Carr Properties purchased the building at 7272 Wisconsin Avenue for $105.5 million in 2016 with plans to demolish it. The project, which is currently under construction, will feature 937,000 square feet of office space with ground-floor retail, two residential towers with 456 apartments and a parking garage.