Government Contractor saves over $2.3M with early lease restructures

Client
  • Siemens Government Technologies
Space
  • 34,834 sq. ft.
Industry
  • Government Contractors
Locations
  • Tysons Corner
Services Provided
  • Transaction Management
Cresa Team
  • Samuel Heiber

Client Objectives

The mission of Siemens Government Technologies (SGT) is to help Federal customers address national imperatives in energy, infrastructure, automation and marine platforms.
 
With space in Reston and Crystal City, SGT wanted to evaluate all opportunities available to the organization to reduce costs, either within their current locations or newly repositioned offices. SGT hired Cresa to develop a strategic real estate plan to determine best use of space and optimal location for SGT’s operational needs.

Results

Cresa developed a Strategic Real Estate Plan which uncovered several opportunities available to the organization to significantly reduce overhead costs ahead of lease expiration. Ultimately, Cresa and SGT determined that staying in SGT’s current locations made the most sense for their staff and organizational needs. Cresa negotiated against JBG Smith in securing $1,600,000 in savings and full concessions to renovate space at 2231 Crystal Drive with no out-of-pocket costs.

By rengeotiating its leases early in both Reston and Crystal City, SGT was able to secure approximately $2.3M in savings.

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