Law Firm Takes 48,350 SF, Purchase Option

RESTON, VA-Intellectual property law firm Greenblum & Bernstein, PLC will make the move to larger digs next door now with its commitment to leasing 48,354 sf in the 76,000-sf building at 1950 Roland Clarke Place. The firm’s long-term lease comes with an option to buy the entire structure for an undisclosed fee that has already been negotiated with building owner Massachusetts Mutual Life Insurance Company. The 20-year-old property has a 2002 assessed value of nearly $9 million.

“They were in a 26,000-sf building they own next door but had grown to 50,000-sf with several area leases and wanted to consolidate,” Advantis/GVA’s Dek Potts tells GlobeSt.com. Potts and Advantis partner Jim Meisel represented the law firm in the deal. “We negotiated a purchase option for our client, which they have to exercise within 12 months.”