Success Stories

ACDI-VOCA

Washington, DC
45,776 SF
Cresa Washington DC
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Client Objectives

ACDI/VOCA is a non-profit organization dedicated to providing sustainable solutions that promote economic growth, higher living standards and vibrant communities in low-income countries and emerging democracies by engaging in activities such as aiding communities meet basic needs, community stabilization, food security and nutrition, poverty alleviation, access to financial services and market integration.

Four years prior to its lease expiration, ACDI/VOCA began the process of evaluating its culture and the impact culture would generate on space design. ACDI/VOCA had occupied its space at 50 F Street, NW, for over 20 years and wanted to remain as close to Union Station and the Capitol building as possible while maintaining a below-market cost structure.

Results

Cresa Washington DC was selected by ACDI/VOCA, amongst other top national commercial real estate advisors, through a highly competitive process, as Cresa’s tenant-only platform stood out as a major differentiator. ACDI/VOCA knew it would receive objective recommendations and unique perspective from Cresa when deciding whether to move and lease; move and buy; or stay, renegotiate and renovate.

After thoroughly evaluating and negotiating with other viable building alternatives, ACDI/VOCA ultimately elected to remain at 50 F Street, NW. Cresa assisted ACDI/VOCA with the renegotiation of the current lease which was consummated nearly two years prior to its expiration date. Securing current market terms and conditions in a submarket whose vacancy rates were quickly diminishing was a significant achievement, ensuring ACDI/VOCA obtained the best economic terms. The renegotiation also allowed ACDI/VOCA the use of swing space for two years while massive renovation of its existing space was completed in phases, including updating the layout, furniture systems and common areas.

ACDI/VOCA was able to maintain an edge in the negotiation process by thoroughly evaluating and negotiating viable competitive alternatives and proving out results via financial analyses and comparative matrices that were presented to the executive committee. Cresa Washington DC’s project management team was involved in the bidding and selection of the design and construction teams while managing renovations which were delivered by the end of 2014.

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