Astra HR to Expand, Relocate Headquarters to 700 King Farm Boulevard in Rockville MD
McLean, VA (April 1, 2010)
Astra HR, a Corstone Capital portfolio company, signed an 11-year, 25,979-square-foot lease to relocate and expand its Rockville, MD headquarters to 700 King Farm Boulevard, according to its real estate advisor Studley.
The company, which currently occupies 20,177 square feet at 7361 Calhoun Place, will be consolidating two offices into this new collaborative facility in an area rich with amenities. The move is expected to take place by May 2010.
This space not only accommodates our current size and future growth, but it will allow us to consolidate our operations and enable us to work more efficiently," said Michael Irvine, Astra HR's Chief Operating Officer. "The lease also includes build-top signage, an invaluable branding tool, and a tenant-improvement allowance, which will fully cover our build-out and allow us to create and design a space to meet our specific needs and reflect our customer and employee focused company culture.
Mr. Irvine also emphasized the broad range of amenities in the area will provide high quality work environment for Astra HR employees.
700 King Farm Boulevard is a 155,294-square-foot office building in the heart of Rockville, MD. Astra HR will join other tenants in the office complex including Aaronson & Company, Avendra LLC, Health Extras and Quest Software.
Studley Executive Vice President Paul Schweitzer represented Astra HR in the transaction. Michael Gribbon of ACP Mid-Atlantic represented the building's landlord, One Irvington Centre Associates, LLC.
About Astra HR. Astra HR is a leading provider of full service HR management solutions that is firmly rooted in the commitment to helping our clients maximize their people and business performance. Headquartered in Rockville, Maryland, Astra HR, the aggregate of consolidations, has been helping clients streamline HR administration processes and leverage their HR investment since 1994, with approximately 10,000 work site employees and upwards of $1.3 billion in total portfolio revenue. Astra HR offers one of the most comprehensive suites of human resource services available that enables clients to analyze their resources, identify growth goals, and eliminate redundancies to promote efficiencies and cost savings across all business disciplines. The company offers a breadth of customizable services that range from employment administration, payroll processing and benefits management, to government compliance, risk management, HR information technology, talent management solutions and employee recruiting and selection. Astra HR is based in Rockville, MD and is a wholly owned Corstone Capital portfolio company. Corstone Capital is a global investment firm with diverse holdings in industry sectors including real estate, distressed debt, aviation, business process outsourcing, human resources, technology and manufacturing. For more information, visit www.AstraHR.com and www.Corstone.com