After working together on a previous transaction, Boudrot, Simon and Tasker reconnected when the CENTRA
opportunity was identified in Virginia.
The client, CENTRA Technology Inc., wanted to secure a long-term lease in an existing mission-critical facility with lower
annual rental payments. At the same time, the brokerage team
also needed to secure tenant improvement money from the
landlord for renovations and to clean up the language in the old
CENTRA wanted reduced annual rental payments, tenant
improvement money and improved lease language. The
brokerage team found a 46,114 sq ft office lease due to expire in
2020 in a building located in Arlington, Va. The brokerage team
was able to restructure and extend the lease for an additional
86 months (through 2027).
JIM BOUDROT, SIOR, CCIM
Tasker and Simon provided critical intelligence regarding
the building, which was being rumored as available for sale,
in the investment community. Knowing the landlord might
benefit from an extended lease term which would enhance
the value of the asset, Tasker and Simon contacted Boudrot
who facilitated the transaction on behalf of his client CENTRA.
The brokers worked together effectively for the benefit of
CENTRA Technology, Inc. and the landlord’s interest within a
weak leasing environment and were able to meet all of their
client’s needs in Virginia.
CENTRA PROPERTIES TRANSACTION TYPE & DETAILS
TRANSACTION DATE: MARCH 19, 2015
TRANSACTION TYPE: LEASE RESTRUCTURE
BUILDING TYPE: OFFICE
BUILDING SIZE: 46,114 SQ. FT.
AGGREGATE RENT: $15,937,751
MARC TASKER, SIOR, CCIM
NAI KLNB COMMERCIAL REAL
RAYMOND SIMON, SIOR
NAI KLNB COMMERCIAL
REAL ESTATE SERVICES