CHEVY CHASE, MD-Boies Schiller Flexner LLP renegotiated its rental rate and occupancy area at Chevy Chase Plaza as it renewed its lease in the approximate 161,500 square foot office building here. The firm, which previously occupied 50,000 or so square feet, scaled back its space by approximately 7,000 square feet of mostly non-contiguous space to leverage greater efficiencies, Bill Morris with Grubb & Ellis tells

The end result for the client: the combination of a reduced rental rate and reduced space resulted in a “meaningful” reduction in the firm’s annual rent. It was a win-win for both parties, he adds, as the landlord, CREA-DC Properties, will be able to keep a long standing tenant and keep its building largely at a full occupancy. The law firm has looked at other buildings during its due diligence process, he says.

Morris repped the tenant with Bruce McNair. CBRE’s James Cahill represented the building owner. Boies Schiller Flexner signed a 10-year renewal for 43,381 square feet.

“Boies Schiller is the largest tenant in the building, according to CBRE. It is 100% leased.

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