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As his only tenant was moving out the other day, Anthony Lanier walked through his glass office tower in downtown Washington, all too aware of the looming financial danger he faces.
Mortgage payments of about $1 million a month. A $3 million annual property tax bill.
And, beginning in March, no rental income.
In September, Lanier installed on the outside of his building near the White House a promotional splash worthy of Times Square: a 13-story-high, bright greenish-yellow sign offering discounted rent, “move in ready” offices, and the almost unheard-of option of “month-to-month” leases.
“See it to believe it!” declares a second, equally impossible-to-miss billboard overlooking Pennsylvania Avenue NW.
Lanier, whose hunt for a new tenant began before 2020, is still searching for a deal. He fears it could be two years before he replaces WilmerHale, the law firm that has…
