Rich Rhodes, Jon Olmstead, and Steve Schaumberg of Cresa Partners Washington, DC assisted the Motley Fool in its search and represented the company in negotiations with property owner Falcon Real Estate Investments. Falcon was represented by CB Richard Ellis. Further terms of the lease have not been disclosed; however, CB Richard Ellis markets the space for $37 per sf.
Located at 2000 Duke St. off Interstate 495, the building was developed as a build-to-suit for Time Life Inc. in 1997. Following its disposition by parent company Timer Warner, Time Life sold the property to the current owner for $40 million last year before vacating the premises.
"We find the process to be more employee-centric now, than in the past, when the focus was more about the company's client locations or even the location of the company leadership," Rhodes says. "We worked to ensure that the Motley Fool was able to stay in Alexandria, an important factor to everyone in their firm." The move will wrap up on April 1.
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