December 20, 2016 (Washington, D.C.) – West, Lane & Schlager Realty Advisors, LLC (WLS), a leading Washington, D.C.-based commercial real estate brokerage firm specializing in tenant representation, announced today that it has completed an 11,395-square-foot lease expansion for Regulus Group at 600 Maryland Ave. SW in the District of Columbia.
In this multi-year transaction, WLS Principal Ganon Rich and Assistant Vice President Tom Fuge negotiated on behalf of Regulus Group, which provides system engineering, program management, and air-traffic support for multiple U.S. Federal Aviation Administration (FAA) and U.S. Department of Defense programs.
Their relocation within 600 Maryland Ave. SW increased Regulus Group’s square footage by more than 60 percent. The company has grown numerous times at the property, owned by Boston-based Boston Properties. This latest lease provides Regulus Group with more stability, as well as the ability to grow its work force over the long term.
Fuge says that the client’s need to occupy space within close relation to the FAA limited the number of options for its D.C. office expansion. Aggressive negotiations with the landlord resulted in a strong concessions package for Regulus Group to remain at 600 Maryland Ave. SW.
The company is constructing the new space “the way it needed to from a branding and functionality standpoint,” Fuge says, noting that WLS was able to renegotiate Regulus Group’s lease two years prior to its natural lease expiration.
Rich says, “Through this transaction, our client was able to maintain proximity to the FAA, and accommodate its growing employee base now as well as in the future – without having to incur lease termination penalties, relocation expenses or build-out costs.”
Neil Adler of D*MNGOOD®