CRESA WASHINGTON DC NEGOTIATES 39,192-SQUARE-FOOT HEADQUARTERS LEASE FOR IRD IN ARLINGTON COUNTY’S ROSSLYN NEIGHBORHOOD

January 16, 2014 (Arlington, VA) – Cresa Washington DC, a corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated services, announced today that it has negotiated on behalf of International Relief & Development (IRD) in a 39,192-square-foot lease restructuring at 1621 North Kent Street in Arlington County’s Rosslyn neighborhood.

Cresa Washington DC Managing Principals Tom Birnbach and Mindy Saffer, LEED AP, as well as Senior Vice President Dennis Tapiero, represented IRD, a nonprofit organization whose mission is to reduce the suffering of the world’s most vulnerable groups and provide the tools and resources needed to increase their self-sufficiency. Additionally, Jeremy Henty, an advisor with Cresa Washington DC’s Project Management Services LLC, leads a team providing project management advisory services to IRD.

“We’re quite pleased to have completed this headquarters lease extension for IRD, a vital organization that since 1998 has provided more than $3 billion in humanitarian assistance around the globe,” Birnbach said. “After conducting an exhaustive search of the options available throughout Rosslyn, Ballston and Crystal City, our client decided to remain at its present location, and we secured a competitive seven-year deal for IRD to stay at 1621 North Kent Street.”

IRD President and CEO Dr. Arthur B. Keys said, “IRD is pleased we were able to achieve significant savings through this real estate transaction. The savings will allow us to continue providing life-saving relief and development programming to vulnerable populations at a lower overall cost. Through the savings achieved by reduced rent, abatements, and allowances, we consider our landlord, Vornado, and our real estate advisor, Cresa, to be important partners in IRD’s mission.”

Arlington-based Vornado/Charles E. Smith owns the 12-story, 230,000-square-foot building known as Rosslyn Plaza E.

About IRD
IRD is a nonprofit, nongovernmental organization responsible for implementing relief, stabilization, and development programs worldwide. IRD's mission is to reduce the suffering of the world's most vulnerable groups and provide the tools and resources needed to increase their self-sufficiency. Specializing in meeting the needs of communities emerging from conflict or natural disaster, IRD partners with donors, local organizations, and many others to deliver sustainable services in agriculture, governance, health, and infrastructure. For more information, visit www.ird.org.

About Cresa

Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Portfolio/Lease Administration, Capital Markets, Sustainability, Industrial/Supply Chain and Facilities Management. With more than 55 offices, Cresa is North America’s largest tenant representation firm. Through its partnership with Savills, one of the world’s largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries. Cresa Washington DC exclusively serves tenants through its offices in Bethesda, the District of Columbia and McLean. For more information, visit www.cresa.com.