Executive director Brian Ball, associate director Chris Coccaro and senior financial analyst Brendan Scanlon of the Washington, DC office of GVA Advantis, represented BFSFCU. The landlord, Farragut Center LLC, was represented by VP of commercial leasing Carla Cavanaugh of the Cafritz Co.
Vornado Realty Trust represented NCB. According to Ginter, Vornado paid the $6 per sf or so rent differential to move NCB to Crystal City.
Tight space in the DC area market is a running theme throughout this transaction, Ginter says. BFSFCU, which had 23,000 sf at 1750 H St., wanted to expand there but was unable to because of space constraints. "They have kept the 23,000 sf, in which Ball originally placed them, and moved to 1725 Eye St. to accommodate their expansion," she says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
