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Home builder relocates HQ and regional office to upgrade image and amenities while securing subtenant for future expansion
Client
- Stanley Martin Companies
- 35,213 sq. ft.
- Construction
Services Provided
client objectives and results
See more success storiesClient Objectives
Stanley Martin Companies (SMC) is one of the most recognized names in new home construction and development in the Mid-Atlantic Region. For 11 years, 11111 Sunset Hills Road served to accommodate SMC’s corporate headquarters, regional office, and marketing operations. With an approaching lease expiration, SMC hired Cresa to create a strategic real estate plan that would address its desire for an improved image; more cohesion across operational divisions; securing exceptional economic terms; and flexibility to expand and/or contract its footprint within the building—all while determining an optimal location for its current and future employees and customers.Results
Using our integrated service model, Cresa provided highly customized services to successfully achieve SMC’s objectives. Upon completion of a needs assessment and development of program requirements, Cresa performed a thorough appraisal of the real estate market and identified suitable real estate alternatives while developing an internal and external communication and negotiation strategy.
After providing SMC with comprehensive quantitative and qualitative analyses of all viable options, SMC chose to implement a unique yet viable solution comprised of two transactions: (1) relocation of its corporate headquarters to Reston Town Center at 11710 Plaza America Drive while (2) moving its regional office and marketing center to nearby Chantilly at 14200 Park Meadow Drive.
Aside from meeting objectives to upgrade image and location, SMC and Cresa negotiated with the ownership an option to terminate and a substantial improvement allowance that included free rent and the cost of build-out, cabling, and furnishings. Due to the extremely favorable nature of the economic terms secured by Cresa, SMC took advantage of the opportunity to lease and build-out as required an additional 4,000 square feet that it would immediately dispose of on “day 1” to a subtenant for a flexible lease term.
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