HERNDON, VA-Navy Federal Credit Union hasrenewed a full-building lease for 80,582 squarefeet at 12851 Worldgate Dr. The creditunion, which provides support services from the Herndon officebuilding, was represented by Ezra Co.'s GeneMartin and Damon Rothman. The asset ispart of a four-building, 322,325-square-foot complex calledWorldgate Plaza and is owned by Inland AmericanREIT.

The credit union's lease was expiring, Martin explains. It didan extensive study of the market on the Toll Road and found therewere a number of alternatives. To stay in the location, "itreceived more than a market concession package and the rental ratewas below market. The landlord was very competitive on bothscores."

Landlord concessions, of course, are a fact of life for thismarket cycle, the only question being how aggressive the landlordis willing to go. In an earlier interview with GlobeSt.com, Ezra Co.president Glenn Meltzer told GlobeSt.com that"everything is negotiable" from the rental rate, rent abatementsand construction build out, to expansion options, renewal options,rights of first offering, termination options and even roof rightsfor communication equipment.