Washington, DC (PRWEB) April 19, 2016
(April 19, 2016) – Savills Studley, the leading global commercial real estate firm specializing in tenant representation, has completed a long-term lease renewal and restructure on behalf of Senior Service America, Inc. (SSAI). The nonprofit organization is located at 8403 Colesville Rd., Silver Spring, MD and will move from the 12th floor to a 21,155 square feet space on the 2nd floor.
Executive Vice President Gary Stein and Corporate Managing Director Jon Glass, both of Savills Studley, represented the tenant in the transaction. The building is owned by Brookfield Office Properties.
“After analyzing our options we chose to take advantage of favorable market conditions to restructure SSAI’s lease well in advance of expiration,” said Stein. “This decision helped us negotiate an upgraded space at significant cost savings to our client.”
The team also negotiated a substantial up-front concession package, enabling SSAI to build brand new space with furniture at no out-of-pocket costs to the organization. Move-in date is scheduled for November 1, 2016.
About Senior Service America, Inc.
Senior Service America, Inc. (SSAI) is committed to making it possible for low-income and other disadvantaged older adults to participate fully in determining their own future and the future of their communities. The organization can trace its roots to the National Council of Senior Citizens, launched in 1961 to advocate for older Americans. For over 40 years, SSAI has operated the federal Senior Community Service Employment Program (SCSEP), its largest program, through a network of local subgrantee organizations. It also operate two other programs for older workers. Headquartered in Silver Spring, Md., near Washington, D.C., SSAI is a 501(c)(3) non-profit organization headed by Executive Director Tony Sarmiento and a board of directors. http://www.seniorserviceamerica.org
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 28 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).For more information, please visit http://www.savills-studley.com and follow us on LinkedIn and Twitter @SavillsStudley