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Case Studies

The following is a representative selection of Broad Street clients and projects in the areas of Tenant Representation, Landlord Representation and Project/Development Management, as well as highlights of the work we have done for a few of them. We look forward to adding your company or project to our list.

Tenant Representation

  • 26 Acre Land Sale
  • December 2014
  • Sale Price $32 Million

5400 Grosvenor Lane

5,084 Square Feet
  • Hired to find Be The Change Office Space in the winter of 2014.
  • Following successful negotiation of the initial lease for Downtown DC, Broad Street assisted Be The Change as they moved forward in leasing space with two (2) other like-minded non-profit groups.
  • Successfully helped negotiate a long term lease on behalf of Be The Change along with the two  (2) other affiliated organizations.
  • Collaborative space with two (2) affiliate organizations has provided Be The Change with a type of collaborative cost effective space which helps them focus the resources of the organization on its mission and while reducing overheard tied to real estate leasing and general office expenditures.

Be The Change

20,000 Square Feet - Washington, DC
  • Provided advisory services related to their in-house facilities and property management efforts and future objectives and goals.

Brookings Institute

6,709 Square Feet Office Space
  • Renegotiated a lease renewal at 1666 K Street, NW. As a result, Center for Nonprofit Advancement received an early termination of their existing lease, allowing them to benefit from thousands of dollars saved monthly through the remainder of the existing lease term.
  • Achieved a full renovation of their existing space.
  • Renegotiated a new base year and rate, Center for Nonprofit will realize a savings of a few hundred thousand dollars throughout the life of the new lease term.

Center for Nonprofit Advancement

150,000 Square Feet - Washington, DC; Denver, CO
  • Engaged as the broker partner in identifying, analyzing and structuring development deals for this national hotel chain.
  • Focused on finding land site locations that have the right layout and square footage with entitlements and infrastructure in place, at a price point that can be modeled for future development.
The Commons on Potomac Square
Sterling, VA - Multifamily Residential
  • Hired by Comstock Homes to sell 108-unit apartment project, new construction.
  • Utilized an auction-style sales process to create urgency and drive up sales price.
  • Sales price- $20.5 Million to a locally based REIT

Comstock Homes

110,000 Square Feet - Beltsville, MD
  • Representation from company foundation through IPO and Private Sale.
  • Negotiated multiple transactions over 110,000 square feet including multiple expansion and renewal options.
  • Secured below market rents within incredibly fast and budget parameters.

DIGEX

  • Hired to assist in the relocation of their Washington, DC office.
  • Tasked with finding GLSEN a new home, providing a higher profile in a location with a greater amenity base.
  • Following negotiations with their existing landlord, negotiated an expansion and extension with landlord in a building and space overlooking Farragut Square at the corner of Connecticut & K Streets in the heart of Washington's business district.

GLSEN

25,000 Square Feet, Washington, DC
  • Within 90 Days achieved Board of Trade's Goal resulting in approximately $1,000,000 savings in lease related expenses.
  • Achieved the Board's goal,  which yielded exceptional results in a short period of time.
  • Identified "off-market" subtenant by implementing aggressive strategic marketing campaign.
  • Secured the Board of Trade temporary space helping to limit any potential negative effects on staff and programs.

Greater Washington Board of Trade

1,200,000 Square Feet, Chicago, IL
  • On behalf of joint venture which included Broad Street principals, and The Carlyle Group a strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Plan included the need for public approvals to allow a use not contemplated in local building codes.
  • The project was brought to 95% occupancy prior to delivery. Major leases with Qwest, Equinix, Global Crossing, Dominion Telecom, NTT, Level3.
  • Project was sold by joint venture at highest IRR ever achieved by the institutional partner.
  • Broad Street principals provided development services and leasing services.

Lakeside Technology Center

75,000 Square Feet, Arlington, VA
  • Initial assignment to relocate from downtown Washington, DC to Northern Virginia.
  • Ultimately negotiated ten (10) unique leases and subleases at below market rental rates, multiple expansion, renewal and termination options in two (2) separate buildings.
  • An overall leasing strategy was drafted and implemented to handle the fast growth of this dynamic company. The termination options and simultaneous lease expirations negotiated ultimately allowed the tenant to exercise a termination at minimal cost to the company.

LCC International

  • Hired to evaluate Metropolitan Moving & Storage headquarters and warehouse consolidation.
  • Negotiated a 33,000 square foot build-to-suit headquarters in Laurel, MD, helping Metropolitan achieve the desired consolidation at the terminus of the Inter County Connector.
  • The new location helped Metropolitan achieve market rent for Prince George's County while providing them the access to major transportation routes that allow them to assist their clients within the Washington, DC Metro region as well as up and down the East Coast.
  • Assisted Metropolitan by also negotiating a short term extension of their existing headquarters to coincide with delivery of their new building.

Metropolitan Moving & Storage

22,109 Square Feet Office Space (Corporate Headquarters)
2,430 Square Feet Office Space (Bank Branch)

  • Hired to evaluate Monument Bank's office space potential expansion for their headquarters, as well as Bethesda branch.
  • Negotiated a short-term stop gap office expansion in an alternate building to coincide with its existing lease termination. This achieved a consolidation into a newly renovated building at 2101 Gaither Road.
  • Relocated the Bethesda branch to 7700 Old Georgetown Road, and assisted in opening a branch in their new headquarters.

Monument Bank  

New York, NY; Denver, CO; San Francisco, CA; Dallas, TX; Atlanta; GA
  • Provide brokerage services in multiple markets across the country to locate and structure long term leases for National Trust's regional offices.
  • As a growing non-profit - price, flexibility and location in a historic building were all key factors addressed in new leases.
  • Efforts also included renegotiating existing leases in the National Trust building and Emerson School in Denver.

National Trust for Historic Preservation

Washington, DC
  • Represented SpaceX in locating their initial Government Affairs Office.
  • Determined space utilization standards that led to an expansion of their office to accommodate growth.

Space X

Washington, DC (CBD)
  • Successfully addressed material terms and conditions, adhering to University's strict real estate guidelines.
  • Secured favorable concession package, including additional tenant improvement dollars above landlord's original speculative build-out of $80 per square foot.
  • Attained optimal lease term to meet University's facility goals.
  • Successfully negotiated unique legal terms to meet University's needs as a tier-1 public institution of higher education.

Texas A&M University

Special Use Properties, Washington, DC Region
  • Developed customized strategies to market and position donated properties to attain highest potential profit,  supporting University endowment and operations.
  • Provided property due diligence, marketing and transactional support to efficiently and favorably dispose of properties.

The George Washington University

28,000 Square Feet - Silver Spring, MD
  • Worked with existing franchisee to find and locate Goddard's first urban location in the DC market.
  • Analyzed conversion potential of existing office building, including how to incorporate parking, drop-off and pick-up, and where to locate the playground.
  • Secured a nearby land lease for outdoor playground activities; a long term lease with multiple options to give Goddard flexibility in growth.

The Goddard Schools

Landlord Representation

Alexandria, VA
28,817 Square Foot Shopping Center
  • Acquired: August 5, 2010
  • Anchored by Dollar Tree Stores, Inc.
  • YMCA of Metropolitan Washington is located in this center.
  • Avondale was purchased 100% leased. In 2013, one of the original anchors, PanAm Grocery went bankrupt and abruptly ended their tenancy at the center. Even though 30% of the shopping center went dark, we saw this as an opportunity to improve both the quality of the tenancy and the center's cash flow. We succeeded in leasing the remainder of the space to national tenants at rents 15-30% higher than PanAm had been paying before. Replacement tenants include: 7-Eleven, Subway, and MetroPCS.

Avondale Shops

4785-4857 Marlboro Pike, Capitol Heights, MD
89,824 Square Foot Shopping Center
  • Acquired in December 2012.
  • Anchored by Shoppers Food Warehouse and Family Dollar.
  • Historically 100% occupied.

Coral Hills Shopping Center

Capitol Heights, MD
68,394 Square Foot Shopping Center
  • Acquired: August 29, 2011
  • Anchored by Value Village.
  • Developed a 6,300 square foot multi-tenanted outparcel building with an award winning retail design touted as one of the best new retail additions to Prince George's County in 2014.
  • Successfully pre-leased 100% of the outparcel prior to commencing construction.
  • Currently 100% leased.

Crestview Square Shopping Center  Crestview Square Shopping Center

East Norrinton, PA
178,791 Square Foot Community Shopping Center
  • Acquired: September 27, 2013
  • Anchored by: Big Lots, Aldi, Crunch Fitness, and Savers
  • At acquisition, Sears Holdings leased nearly 48% of the center with 84,180 square feet. The space had originally been occupied by Kmart until 2011, when they closed operations. Immediately thereafter, Sears Holdings backfilled half the space with their Sears Outlet concept. With options to renew over the next fifty years at rents grossly below market, Sears seemed unlikely to relinquish their valuable leasehold interest. We underwrote them staying at Dekalb throughout our hold period. A year after our acquisition, it became clear that there might be an opening to take back the space. Sears had been unable to execute a lease with an anchor tenant for the rest of the box despite significant interest from the market. We pursued the prospective anchor tenants directly while simultaneously opening the dialogue with Sears about an early termination. After a long and delicate negotiation, we succeeded in terminating Sears Holdings without paying a fee, kicked out Sears Outlet, and landed two new anchor tenants, Savers and Crunch Fitness, at rents more than double what Sears had been paying. We are still in the process of bringing this center to stabilization, but the end result will be significantly better for our investors.
  • Future capital improvements include: new facade for half of the shopping center, new pylon sign, and updated site work.
3800 E. Lombard Street, Baltimore, MD
58,815 Square Foot Shopping Center
  • Acquired in April 2013.
  • Historically anchored by Santoni's Super Market, which has occupied the center since its original construction in 1987. In October 2013, Santoni's publicly announced its closing after decades of operations and we secured possession of the space while narrowing the field of prospective tenants to replace the grocer.
  • By mid-January, we signed a lease with G-Mart, which opened its doors to the public the very next month.

Highlandtown Village Shopping Center

2001-2215 W. Patapsco Avenue, Baltimore, MD
112,580 Square Foot Shopping Center
  • Acquired in September 2013.
  • Anchored by LA Mart, a 30,000 square foot highly successful ethnic grocery store.
  • Junior anchors include Dollar General and Dollar Tree, and pad site tenants include Sonic Drive-In, Dunkin Donuts, Popeyes Louisiana Kitchen, and Advanced Auto.
  • Corner pad site development opportunity on the intersection of W. Patapsco Avenue and Hollins Ferry Road.

Hollinswood Shopping Center

1,200,000 Square Feet, Chicago, IL
  • On behalf of joint venture which included Broad Street principals, and The Carlyle Group a strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Plan included the need for public approvals to allow a use not contemplated in local building codes.
  • The project was brought to 95% occupancy prior to delivery. Major leases with Qwest, Equinix, Global Crossing, Dominion Telecom, NTT, Level3.
  • Project was sold by joint venture at highest IRR ever achieved by the institutional partner.
  • Broad Street principals provided development services and leasing services.

Lakeside Technology Center

Denver, CO
193,625 Square Foot Shopping Center
  • Acquired: April 14, 2014
  • Anchored by Casa Bonita.
  • Redevelopment of community shopping center.
  • In the process of backfilling vacant spaces and turning over existing tenants to better operators able to pay higher rents.
  • Able to take advantage of rapidly changing trade area revitalized by the addition of a new light rail line as part of Denver's public transit system.
  • NOI increased 60% within a year of acquisition. Upon stabilization, it will be almost 200% higher.
205,000 Square Feet, San Jose, CA
  • On behalf of joint venture which included Broad Street principals, and The Carlyle Group a strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Negotiated with bankrupt utility provider to design supply electrical infrastructure to the building.
  • 100% lease to Qwest prior to delivery of the building.
  • Sold to Qwest within first year of lease.
  • Broad Street principals provided development services and leasing services.

San Jose Technology Center

1790 E. Market Street, Harrisonburg, VA
190,650 Square Foot Shopping Center
  • Acquired in June 2014.
  • Anchored by Kroger, TJ Maxx, Party City, and Planet Fitness.
  • Destination grocery-anchored community shopping center with strong mix of national, regional, and local tenants.
  • Located in the economic engine of the Shenandoah Valley, proximate to the James Madison University.

Spotswood Valley Square Shopping Center

Project/Development Management

6,000 Square Feet - Landover, MD
  • This four (4) unit, 6,000 square foot retail pad site bridges the existing non-descript suburban shopping center and County Planners' vision of transforming this stretch of Annapolis Road into a walkable urban boulevard lined by medium-density, mixed-use development.
  • A comprehensive landscape, planting, and storm-water management plan minimizes the environmental downsides of a large parking lot.
  • A phased plan of shrub and tree plantings and multiple micro-bio-filtering structures will bring the site into compliance with current Landscape Manual regulations.
  • Masonry, glass, and metal are high quality materials chosen for their aesthetics, longevity and ease of maintenance.

Crestview Pad Site

1,200,000 Square Feet, Chicago, IL
  • On behalf of joint venture which included Broad Street principals and The Carlyle Group a strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Plan included the need for public approvals to allow a use not contemplated in local building codes.
  • The project was brought to 95% occupancy prior to delivery. Major leases with Qwest, Equinix, Global Crossing, Dominion Telecom, NTT, level3.
  • Project was sold by joint venture at highest IRR ever achieved by the institutional partner.
  • Broad Street principals provided development services and leasing services.

Lakeside Technology Center

Office Condominiums - Silver Spring, MD
  • Acquired two (2) medical office buildings on behalf of joint venture to convert to office condominiums.
  • Negotiated seven (7) lease termination agreements with remaining tenants.
  • All condos sold at prices not previously achieved in Silver Spring prior to delivery of building.
  • Supervised most tenant build outs.
  • Broad Street provides development/project management services, sales and property management services.

Pershing Court Condominiums

205,000 Square Feet, San Jose, CA
  • On behalf of joint venture which included Broad Street principals, and The Carlyle Group a strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Negotiated with bankrupt utility provider to design supply electrical infrastructure to the building.
  • 100% lease to Qwest prior to delivery of the building.
  • Sold to Qwest within first year of lease.
  • Broad Street principals provided development services and leasing services.

San Jose Technology Center

110,000 Square Foot Shopping Center - Frederick, MD
  • Acquired 85% vacant shopping center on behalf of joint venture from national health insurance company to reposition as a discount shopping center.
  • A strategic business plan was drafted and implemented by our team for the full repositioning of this asset.
  • Major leases negotiated with the world's largest discount grocer, Aldi, the nation's leading dollar store chain Dollar Tree and national fitness provider, Planet Fitness prior to delivery of the reconfigured center.
  • Broad Street provides development/project management services, sales and property management services.

Vista Shops