Arlington County to Relocate to Sequoia Plaza One

County Signs 144,720-SF Lease that Will Save Millions Over Lease Term

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McLean, VA(June 18, 2009) -

The County Board of Arlington County Virginia will be relocating its DHS programs and staff at 3033 Wilson Boulevard, having signed a 144,740-square-foot lease which represents 97 percent of the rentable area at Sequoia Plaza One, 2100 Washington Boulevard in Arlington, VA.

Mark Roberts, corporate managing director at international real estate services firm Studley, represented the County in the transaction. The landlord, Foulger-Pratt Development, Inc. was represented by Cushman & Wakefield.

“Studley’s strong analytical and negotiating skills were extremely valuable and resulted in substantial cost savings to meet our constrained budget requirements,” stated Greg Emanuel, capital projects director with Arlington County. “Studley started representing us after we had been through two rounds of direct negotiations with the current landlord to renew our existing lease. Once Studley was retained, Mark created the leverage needed to get the renewal price reduced by $15 million, and helped us evaluate alternative space options like Sequoia Plaza One that would further lower our occupancy cost by yet another $7.1 million. We also were able to create additional options not available at our current location.”

Studley negotiated $22.1 million in total occupancy-cost savings over a comparable 10-year period with the new relocation lease versus the starting point from when Studley was first retained. The lease includes expansion options to grow from 144,740 square feet up to 370,000 square feet, which encompasses the entire three-building office-park, favorable renewal options and an option to purchase the building under attractive terms and conditions.

In addition, the landlord agreed to base-building upgrades including energy-efficiency enhancements to qualify for LEED EB (Leadership in Energy and Environmental Design for Existing Buildings) rating and will be making a large annual contribution to enhance bus service to the site and surrounding neighborhoods.

“We are thrilled to have been able to step in and help the County secure a better facility solution for the long-term,” shared Mr. Roberts. “In addition to the favorable economics and improved space layout efficiencies, the County now has options to more than double in size, providing the opportunity to eventually co-locate other DHS divisions to better serve its customers and create further operational efficiencies.”

About Studley. Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS/Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available atwww.studley.com.

News Source : Arlington County to Relocate to Sequoia Plaza One