International Dairy Foods Association Signs Early Lease Renewal at 1250 H Street NW
Proposed Studley Strategy Saves Nonprofit Several Million Dollars
Washington, DC (August 6, 2010)
International commercial real estate services firm Studley announced today that the International Dairy Foods Association (IDFA) has signed a seven year, 17,291-square-foot lease extension at its Washington, D.C. headquarters located at 1250 H Street, NW.
"Though our lease was not due to expire, Studley approached us with the idea to restructure our lease ahead of schedule in order to take advantage of the soft real estate market," said Neil Moran, IDFA's CFO. "The strategy proved to be a success as our new lease terms reduce our overhead expenses and allow us to save several million dollars by not having to relocate. We couldn't be more satisfied with the result."
1250 H Street, NW is a 188,000-square-foot office building located in the heart of DC, just a few blocks from the White House.
Studley Executive Managing Director Jeff Shrago and Associate Chase Bourdelaise represented IDFA in the transaction.