TF Cornerstone Extends Lease With Quadrant Inc In Reston Office Building
1881 Campus Commons Drive
Building Size
23,000 SF
Asset Type
Office
Closing
Mar 20, 2024
About this deal
AI
The lease extension involves a 23,000 square foot office space located at 1881 Campus Commons Drive in Reston, VA. TF Cornerstone, the landlord, has extended the lease with Quadrant Inc, who will continue to operate their global headquarters at this Class A office building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 1881 Campus Commons Drive
- Market: Reston, VA
- Landlord: TF Cornerstone
- Tenant: Quadrant Inc
- Landlord's Rep: Paige Barger, Chloe Eyring, Matt Bundy & Tom Walsh - Cushman & Wakefield
- Tenant's Rep: Dan Falls - CBRE
The lease extension was facilitated with Paige Barger, Chloe Eyring, Matt Bundy, and Tom Walsh from Cushman & Wakefield representing TF Cornerstone as the landlord. Dan Falls from CBRE served as the tenant's representative, ensuring a smooth transaction for Quadrant Inc maintaining their headquarters in Reston, VA.
Players
Reston Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93