Allied Telecom Group Renews Downsized Lease in Arlington, Va.
Allied Telecom Group, an internet service provider, has renewed a 15,000-square-foot lease at 1400 Crystal Drive, a 308,000-square-foot office building in Arlington, Va., Commercial Observer has learned.
The company, which has been at the property for nearly 10 years, downsized its space by 10,000 square feet.
The building is owned by a joint venture between Starwood (STWD) Capital Group and Vanderbilt Office Properties, which acquired the property from Lincoln Property Company in December 2021 for $188.5 million.
Cresa represented the tenant in the renewal.
“COVID has really impacted the staffing needs of companies large and small — Allied was no different,” Jon Olmstead, a principal at Cresa, told CO. “We worked with them to address their space programming and determine the best course of action. In the end, we were able to rightsize their space with no interruption to business and with the benefits of a significant cost savings on the future lease. It was a real win-win.”
The 14-story LEED Gold building is within walking distance of the Crystal City Metro station and Amazon’s HQ2 at National Landing. Amenities in the building include an on-site fitness center, a penthouse terrace, a conference center, a lounge, EV charging stations and secure bike cages.
The landlord currently has the additional 10,000 square feet of space available for lease.
Rich Rhodes of Cresa joined Olmstead in representing the tenant in the transaction, while Neil Alt of Lincoln Property Company represented the landlord.
Keith Loria can be reached at Kloria@commercialobserver.com.