IT Firm Spreads its Wings in New Leasing Deal

MCLEAN, VA-Information technology firm Computer & Hi-Tech Management Inc. has committed to expanding its office space in the building at 7926 Jones Branch Dr. from 7,000 sf to 18,000 sf of space. The deal, orchestrated by Cushman & Wakefield on behalf of CHM, allows the tech company to consolidate what had been three different lease agreements in the 28-year-old building into a single lease.

“The leases were all well over market price now,” Cushman & Wakefield’s David Scheinberg tells GlobeSt.com. “Building owner Saul Centers Inc. just tore them up, which was really great. CHM saved roughly $10 per-sf.” CHM’s new lease is for a seven-year term at $21.50 per-sf. “It was a great deal for the building, as well, to get an expansion from this client.”