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Tenant Representation Case Studies |
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webMethods is headquartered in Fairfax, Virginia, and has offices throughout the United States, Europe, Asia Pacific and Japan. The firm's enterprise application integration software links together businesses' procurement, order process, inventory management, shipping and fulfilment, and enterprise resource planning processes.
webMethods' Fairfax offices included a 63,000 square foot lease obligation at 3930 Pender Drive which was expiring in March 2005. At the same time, the company's remaining lease obligations at 3922 and 3926 Pender Drive totalling 62,000 square feet were expiring in December 2007.
Cassidy & Pinkard Colliers structured an 11-year, 105,903 square foot lease transaction at 3877 Fairfax Ridge Road in Fairfax, allowing webMethods to consolidate into one building, while providing the firm with favorable expansion rights to allow for ongoing growth. The High Ridge lease transaction allows webMethods to: - Use a previous tenant's improvements to expand its technical infrastructure capacity and demonstration capabilities and create a better Executive Briefing Center;
- Take advantage of market conditions to reduce costs in the near and long term by locking in on a low rental base going forward; and
- Maintain a location favored by webMethods' employees and executives.
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