GridPoint

Client Situation

GridPoint was located in approximately 19,000 square feet of sublease space in Washington, DC’s central business district (CBD). This sublease was expiring on December 31, 2007, which required Studley (now Savills Studley) to identify and negotiate a transaction within 18 months. Based on growth projections, the clean tech company hired Studley to represent it with its 40,000-square-foot space requirement.

Consideration Analysis

GridPoint was willing to relocate anywhere in the Washington metropolitan region, as long as the new location was situated within a “sidewalk” community – a working environment desirable for current and prospective employees – and preferably close to one or more Metro subway stations. Studley surveyed the Washington metropolitan region and after touring GridPoint through several different submarkets, GridPoint decided to focus on Arlington County. As a result, Studley was charged with finding opportunities in that area.

Result

Studley found space in Arlington that not only accommodated GridPoint’s space needs, but that also was located in the heart of Arlington’s Clarendon neighborhood (along the trendy Rosslyn-Ballston corridor) – considered the ultimate “sidewalk” community, with its neighboring restaurants, bars and national retailers. Although the space was originally marketed as retail, Studley was able to convince the ownership to re-evaluate the disposition of space from retail to office. Studley facilitated the transaction within four months, which satisfied the requirement for GridPoint to complete its build-out and to receive tax and relocation incentives from Arlington County and the Commonwealth of Virginia.

Summary Information

  • Property: 2801 Clarendon Boulevard, Arlington, VA
  • Transaction Size: 40,000 SF
  • Transaction Type: Lease Relocation
  • Service Line: Office

Meet the Team

Myers, Laurent

Myers, Laurent

Executive Managing Director
202.624.8537