Success Stories

National Cable & Telecommunications Association

Washington, DC
54,944 SF
Cresa Washington DC
Download as PDF

Client Objectives

The mission of the National Cable & Telecommunications Association (NCTA) is to advance the cable and
telecommunications industries’ public policy interest before Congress, the executive branch and the courts,
and to encourage and promote the industries’ operating, programming and technology developments in
order to better serve the American public. NCTA’s mission makes proximity to Capitol Hill and congressional
decision makers critical to their operations.

NCTA hired Cresa Washington DC to develop a strategic real estate plan to evaluate all possible real estate strategies. NCTA had seven years remaining on their lease term at 25 Massachusetts Avenue, NW, and they did not want to miss any “window-of-opportunity” that the market was offering. NCTA occupies approximately 39,000 square feet of office space to accommodate its staff and an additional 14,000 square feet of first floor space which includes a showroom, a boardroom and a 100-person movie theater.

Results

Cresa developed a strategic real estate plan which outlined a specific set of transaction goals. The
transaction goals were the baseline for an internal agenda which included reducing current real estate costs
while upgrading the space to maintain their “leading edge” image in the cable and telecommunications
industry. To fully leverage the current landlord, Cresa simultaneously developed and deployed an external
agenda to maximize NCTA’s negotiating position. NCTA’s movie theater requirement limited the relocation
options to only proposed developments which would start construction based on NCTA’s tenancy. These
options included several developments located in the vibrant East End of Washington, DC. By utilizing
the internal/external agenda method of negotiating, Cresa was able to negotiate a restructure of NCTA’s
lease which commenced six years prior to the scheduled lease expiration with a cost savings value of over $3.4 million dollars from rent reduction, rent abatement, and tenant improvement cash. In addition, Cresa negotiated for a termination of NCTA’s $400,000 letter of credit and significant building upgrades that would satisfy NCTA throughout their next lease term.

Search

Top Stories