Success Stories

National Association of Manufacturers

Washington DC
41,732 SF
Cresa Washington DC
Download as PDF

Client Objectives

The National Association of Manufacturers (NAM) is the preeminent US manufacturers association as well as the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector. The NAM consists of 11,000 manufacturing companies and is a strong force for sensible government policies that aim to reduce the cost of production and remove barriers to exports. The ultimate mission of the NAM is to be the voice for all manufacturing in the United States by informating legislators, the federal administration, media, policy influencers and the public about manufacturing's vital leadership in innovation, job opportunity, technical progress and economic security.

After an extensive interview process of 12 commercial real estate firms, the National Association of Manufacturers selected Cresa as its corporate real estate advisor. At the time, the NAM was occupying space on one sizeable floor spanned across two towers (North and South), as well as a portion of another floor at 1331 Pennsylvania Avenue, NW. The building was built in 1983 and had undergone only minor capital improvements to the lobby and elevator cabs, leaving the remaining common areas untouched. Additionally, the NAM's existing space was in a primarily government-occupied building. The NAM's goals were to create a more collaborative work environment and upgrade it office space with a strict directive of reducing occupancy costs.

Results

Cresa Washington DC guided the NAM through an extensive strategic plan, survey of the market, and, ultimately, negotiation of a tenant-favorable lease in order to fulfill the NAM's goal and objectives. After multiple tours of possible sites, six buildings were selected for further assessment. Cresa created a competitive environment between all six ownership entities and evaluated the short-listed buildings by preparing test-fits that demonstrated the positives and negatives of each building. The transaction management team negotiated deals with each of the six buildings and found that the new construction at 733 10th Street, NW, best suited the NAM by meeting all of its goals and objectives. The efficiency of the building enabled the NAM to reduce occupancy costs while enjoying the benefits of a brand new LEED building with first class amenities. Cresa Washington DC's project mangement team is currently managing the construction of the new office space to ensure the budget is met and the project is completed on time.

Search

Top Stories