EYA

Client
  • EYA
Space
  • 18,600 sq. ft.
Industry
  • Real Estate
Locations
  • Bethesda
  • Washington DC
  • Tysons Corner
  • Baltimore
Services Provided
  • Transaction Management
  • Project Management
  • Workplace Solutions
Cresa Team
  • Matthew Ward
  • Jon C. Olmstead

Client Objectives

EYA, LLC (EYA) is one of the most prominent residential developers in greater Washington, DC. The company’s mission is to consistently deliver the one thing metropolitan homebuyers want most — life within walking distance®. This is why more than 4,000 Washington-area home-buyers have chosen EYA.
 
EYA’s relationship with Cresa Washington DC began over two years prior to EYA’s pending lease expiration. As a company that has projects throughout the greater Washington, DC area (Maryland, Virginia and the District of Columbia), EYA was very interested in up-and-coming, developing sites throughout the metropolitan area. Before their current location, EYA had been headquartered in Arlington, VA, so they were open-minded when it came to geography. From the beginning, one of the most important drivers for EYA was where should they be to keep their existing employees and continue to be able to recruit the best emerging talent in the area. With numerous mixed-use projects underway with the growth of the economy, a number of geographic locations presented themselves to EYA in addition to remaining in downtown Bethesda.

Results

EYA took advantage of Cresa’s integrated services team, utilizing transaction services, lease forensics, and workplace strategy, as well as project management. After very seriously considering a new project in Rockville, MD, Cresa renegotiated EYA’s existing lease at 4800 Hampden Lane. The location provides EYA with walking-distance accessibility to numerous restaurants, public transportation and associated amenities that come with being centrally located in downtown Bethesda. Additionally, Cresa was able to capture 7% savings exactly one year early, as well as attain almost one full year in rental abatement and over $1,000,000 in tenant improvement dollars to upgrade their internal work environment to current standards.
 
Savings: $1,000,000 (7%)

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