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ScienceLogic
Services Fournis
Client Objectives
ScienceLogic simplifies the task of helping IT operations leaders deliver better business outcomes through data-driven automation. Its clients include over 25,000 global service providers, enterprises, and government organizations.
To create a more attractive workplace for their employees to return to after the work-from-home mandate was issued during the pandemic, ScienceLogic desired a higher quality office in an amenity-rich environment without upfront capital investment or a long-term lease commitment.
Results
Cresa performed a lengthy strategic planning and search process to uncover all options available to ScienceLogic and ultimately identified the most favorable option at Democracy Tower. For ScienceLogic, this opportunity offered:
- A "plug 'n' play" opportunity at below-market rates
- 58% more efficient space
- A three-year sublease term
- A financially sound sublandlord, and
- A location at the core of Reston Town Center's specialty retail, dining, cinema, and hotel facilities.
Because the existing conditions suited ScienceLogic's needs, the group minimized up-front capital investment and experienced little disruption to operations. Employees now enjoy high-end design and like-new construction with multiple conference rooms, lounges and collaborative spaces, Steelcase furniture, and panoramic views.
Additional Assignments: Cresa has been working with ScienceLogic since 2008 when the group needed a real estate advisor to strategically align their rapidly evolving business plans with a workplace expansion. As a result, ScienceLogic secured a 30,000-square-foot headquarters lease at 10700 Parkridge Boulevard in Reston, Virginia, with prominent top-of-building signage at that time. During the lease term, Cresa leveraged a termination option to restructure and expand the facility to approximately 60,000 SF. To date, Cresa has assisted ScienceLogic with six lease assignments.
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