Nixon & Vanderhye Restructure Office Lease in Arlington
By Keith Loria April 28, 2023 1:28 pm
reprints
Nixon & Vanderhye, a global intellectual property law firm, has restructured its lease at 901 N. Glebe Road, a 333,948-square-foot office building in Arlington, Va.
The company is renewing its lease on the 11th floor but reducing its space and annual rent. Furthermore, Nixon & Vanderhye updated the space to reflect its current workplace policies, with changes to the office’s footprint.
Piedmont Office Realty Trust, the owner of the building, acquired the property in 2013 for $175.6 million. The landlord is currently renovating the building’s amenities and adding a conference facility and cardio room.
Savills represented the tenant in the deal and explored several relocation alternatives before working with the building’s owner to restructure the lease.
“In this climate, we want to ensure that every client need is met, even when they stay in place,” Wendy Feldman Block, an executive managing director at Savills, said in a prepared statement. “Working with our workplace strategy team, we presented and capitalized on an opportunity to seamlessly reimagine the law firm’s workspace while maintaining its presence in the heart of Arlington.”
Built in 2005, the 12-story building is near Ballston Metro and the Ballston Quarter shopping mall. The building is certified LEED Gold, Energy Star, BOMA 360 and has achieved the WELL Health Safety rating.
The Institute For Justice also re-upped in the building earlier this year.
The Savills team also included David Cornbrooks, Steve London, Ken Biberaj, Danielle Ferrari and Johanna Rodriguez. The landlord was represented by Nick Gregorios of Avison Young.
Keith Loria can be reached at Kloria@commercialobserver.com.
