Senior managing directors Lawson Wilder and Charles Henyon and assistant director Mark Strauss of the Suburban Washington, DC office of Studley are the exclusive commercial real estate advisors for AAA Mid-Atlantic, and represented the organization. "It's a relocation and a consolidation of area facilities," Wilder tells GlobeSt.com. "This will be the fleet headquarters where they will do training for drivers, maintenance, etc."
Financial terms of AAA Mid-Atlantic's 12-year lease have not been disclosed. However, Commonwealth Commercial's Neil Cramsey, who represented property owner MBC Realty Advisors in the transaction, markets space in the building for $6.75 per sf, according to Black's Guide.
"The site had to have ample parking for the company's fleet of vehicles, as well as proper zoning that would allow the firm to house a repair and maintenance facility with which to service those vehicles, a requirement which severely limited the number of options," Wilder says in a statement on the search for space. "In addition, AAA Mid-Atlantic wanted to ensure that this headquarters was centrally located to its customers in order to continue to meet their needs quickly and efficiently." The industrial site boasts a location just minutes from the I-95/395/495 Springfield interchange.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.