Beers & Cutler (now Baker Tilly)

Client Situation

In mid-2004, Beers & Cutler hired our firm to evaluate its existing facilities and future growth projections in the Washington region and formulate a long-term strategic plan for the firm’s real estate needs. The firm was occupying approximately 27,000 square feet of office space in Tysons Corner and 15,000 square feet in downtown Washington.

Consideration Analysis

Studley (now Savills Studley) evaluation showed an immediate need for more space in the Tysons Corner market and the probability of future expansion. Beers & Cutler’s existing landlord could not accommodate Beers & Cutler’s expanding space needs on contiguous floors, which was a goal of the firm, so Studley explored other options in the market.

Result

After considering the relocation and expansion options in Tysons Corner, Beers & Cutler selected 8219 Leesburg Pike for its ability to accommodate the firm’s present space requirements and future expansion options on contiguous floors in a Class A building.  The firm signed a 15-year lease for the sixth, seventh and eighth floors that commenced in September 2005. With an attractive economic package, generous expansion options and extensive base-building upgrades, Beers & Cutler’s lease at 8219 Leesburg Pike will help the firm maintain its significant presence in the region for years to come.

Subsequent to this transaction, Studley successfully disposed of the firm’s excess space in both Tysons Corner and downtown Washington, DC, through long-term subleases.
 

Summary Information

  • Property: 8219 Leesburg Pike, Vienna, VA
  • Transaction Size: 72,500 SF
  • Transaction Type: Lease Relocation, Portfolio Disposition, Sublease
  • Service Line: Office