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901 North Glebe Road Arling...

Nixon & Vanderhye Signs Lease At 901 N Glebe Rd In Arlington, VA
LEASEDOffice

Nixon & Vanderhye Signs Lease At 901 N Glebe Rd In Arlington, VA

901 North Glebe Road Arlington, Virginia 22203, USA

Building Size

333,948 SF

Asset Type

Office

Closing

Apr 28, 2023

AI

The office space located at 901 N Glebe Rd in Arlington, VA has been leased. The transaction was completed by Piedmont Office Realty Trust, who acted as the landlord, and Nixon & Vanderhye, who acted as the tenant. The leasing deal was facilitated by the tenant's representatives, David Cornbrooks, Steve London, Ken Biberaj, Danielle Ferrari, and Johanna Rodriguez of Savills, and the landlord's representative, Nick Gregorios of Avison Young. The office space has a total square footage of 333,948 and the asking rent was $46 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not applicable for a lease transaction
  • Address: 901 N Glebe Rd, Arlington, VA
  • Market: Arlington, VA
  • Landlord: Piedmont Office Realty Trust
  • Tenant: Nixon & Vanderhye
  • Landlord's Representative: Nick Gregorios - Avison Young
  • Tenant's Representatives: David Cornbrooks, Steve London, Ken Biberaj, Danielle Ferrari, and Johanna Rodriguez - Savills

This leasing deal brings together the landlord, Piedmont Office Realty Trust, and the tenant, Nixon & Vanderhye, in a mutually beneficial agreement. The involvement of the tenant's representatives, David Cornbrooks, Steve London, Ken Biberaj, Danielle Ferrari, and Johanna Rodriguez of Savills, as well as the landlord's representative, Nick Gregorios of Avison Young, showcases the collaboration and expertise of the individuals involved in successfully completing this leasing transaction.

Players

Danielle Ferrari

Savills

Broker

1 deal

Broker
Piedmont Office Realty Trust
Piedmont Office Realty TrustLandlord

Arlington 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