The NOAA headquarters is a best-in-class example of transit oriented development . . .
Arlington, Virginia (PRWEB) December 20, 2011
FD Stonewater, in representation of its client Foulger Pratt, provided brokerage services to help secure a 15-year lease renewal for the National Oceanic and Atmospheric Administration (“NOAA”) headquarters in Silver Spring, MD. The new leases are for just over 1.0 million square feet, consisting of the near entirety of Silver Spring Metro Plaza Buildings 2, 3 and 4 (each tower is subject to a separate co-terminus lease agreement). The NOAA headquarters is one of the Federal Government’s top-ten largest leased properties nationwide, and NOAA has been the lead tenant in the complex since its original construction. Under the new agreements, NOAA will remain in occupancy through the end of 2028.
The NOAA headquarters is a best-in-class example of transit oriented development – sitting atop the Silver Spring Metro Station in the heart of this important suburb of Washington DC. In support of Foulger-Pratt, FD Stonewater worked for over three years to complete extensive pre-procurement analysis of the property to help assure it would conform to the Federal Government’s updated property standards, and assisted Foulger-Pratt in transaction negotiations which will result in substantive upgrades to the properties and a long-term commitment to the buildings and community by NOAA and the Federal Government.
About FD Stonewater
FD Stonewater was formed through the recent merger of two boutique real estate firms, FD Partners based in Arlington, Virginia and Stonewater Partners of New York and Los Angeles. The merger brings together a combined track record of more than $10 billion in investment, advisory, development and acquisitions and over 37 million square feet of lease transactions, to offer a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Advisory and Brokerage activities.