Paul Schweitzer, executive vice president, and Paul Graham, assistant director, of Julien J. Studley both represented Salomon Smith Barney in the transaction. Pinnacle Realty Management represented the owner.
The new lease deal is part of a plan to expand Salomon Smith Barney. The investment banking and securities brokerage firm will now have more space in which to accommodate the growing number of financial consultants to be added to the firm over the next several years.
"Salomon Smith Barney's financial services business was facing a significant expansion in its Downtown Bethesda office," says Schweitzer. He describes the deal in the 112,136 sf, four-story building as fortuitous in what he says is an "extremely tight market." He adds it allows the company to "consolidate its entire operation onto a single floor" and that "the resulting transaction included high visibility signage, a below market rental rate and a large tenant improvement allowance."
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