Lerner Taps Cushman & Wakefield for Massive Leasing AssignmentExclusive agency agreement involves millions of square feet of Class A office space in the D.C. area
Washington, D. C., November 2, 2009 - Cushman & Wakefield today announced that Lerner Enterprises, the largest owner and developer of Class A office space in the Washington, D.C. area, has awarded the firm an exclusive agency assignment to market the vast majority of its local commercial office portfolio. Under the agreement, Cushman & Wakefield will represent Lerner in the leasing of existing and to-be-constructed office properties totaling millions of square feet spread throughout the Washington, D.C., Virginia and Maryland markets.
“Lerner is proud to announce its expanded relationship with Cushman & Wakefield to manage leasing efforts for our growing and dynamic office portfolio,” stated Mark D. Lerner, a principal of Lerner Enterprises. “We anticipate that their knowledge of our portfolio, their local and national exposure and the large pool of tenants they represent will create more leasing opportunities within our portfolio.”
“Cushman & Wakefield is extremely pleased and honored to represent Lerner Enterprises, a firm that stands out among the most highly respected real estate developers and owners in the Mid-Atlantic region,” said Jim Underhill, Regional Manager for Cushman & Wakefield. “Simply stated, our role in this expanded relationship is to create asset value and advance the development footprint of Lerner. With a globally integrated platform of services to draw upon, Cushman & Wakefield is uniquely qualified to deliver on these important business objectives.”
Brian F. Tucker, formerly of Diamond Property Company, has joined Cushman & Wakefield to head the leasing effort on the Lerner account. Mr. Tucker and his former colleague Jeffrey K. Diamond, who is pursuing other entrepreneurial real estate ventures at this time, are both extremely familiar with the Lerner portfolio. Diamond previously held the Lerner leasing account for almost thirty years.
“I’ve known the Cushman & Wakefield organization for years, and I can’t think of a better company to support me as I continue my efforts on behalf of the Lerner organization,” said Tucker. “The firm offers depth in all markets, tremendous talent to draw upon, and an entire suite of real estate services in addition to its world class leasing and sales offerings. I am very excited about my opportunity with Cushman & Wakefield to take the Lerner portfolio to the next level.”
Cushman & Wakefield will market properties in Virginia, Maryland and Washington, D.C. for Lerner. The Virginia leasing assignment includes; five million square feet of space at The Corporate Office Centre at Tysons II in McLean; 360,000 square feet at 7799 Leesburg Pike in Falls Church; 600,000 square feet at Dulles Highpoint in Dulles; 127,000 square feet at One Flint Hill in Fairfax; 131,000 square feet at Parkview Executive Center in Herndon; 5 million square feet at The Corporate Office Park at Dulles Town Center in Dulles; 350,000 square feet at Vintage Park in Dulles; and 1.2 million square feet at Beaumeade Corporate Park in Ashburn.
Lerner’s leasing assignment in Maryland includes; 200,000 square feet at 2000 Tower Oaks Boulevard in Rockville; 60,000 square feet at Towne Plaza in Rockville; and 1.3 million square feet at Crystal Rock in Germantown.
In Washington, D.C. Lerner’s leasing assignment includes; 650,000 square feet at Washington Square, 1050 Connecticut Avenue, NW; 190,000 square feet at 20 M Street, SE; and 320,000 square feet at 1000 South Capitol Street, SE.
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 230 offices in 58 countries and 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at CushmanWakefield.com.
About Lerner Enterprises
Lerner Enterprises of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is Washington, D.C.'s largest private real estate developer and is involved in all phases of office, retail, hotel and residential real estate. This includes planning, development, construction, leasing, and property management. Lerner has developed and currently manages more than 15 million square feet of office buildings, retail centers and residential communities. Lerner's office portfolio has several well-known developments including: The Corporate Office Park at Dulles Town Center (DullesTownCenter.com), Dulles, VA; The Corporate Office Centre at Tysons II (Tysons2.com), McLean, VA; Fallsgrove Village Office Center (FallsgroveVillageCtr.com), Rockville, MD; White Flint North, (headquarters of the United States Nuclear Regulatory Commission), North Bethesda, MD; Washington Square, (WashingtonSquareDC.com), Washington DC; 1133 Connecticut Avenue, NW, Washington, DC; 20 M Street, SE (20MStreetSE.com) with LEEDŽ Gold Certification, Washington, DC; Flint Hill Office Park, Fairfax, VA; 7799 Leesburg Pike, Falls Church, VA; and 400 Army Navy Drive, Arlington, VA , among many others.
Lerner’s newest trophy office building co-developed with The Tower Companies (TowerCompanies.com), is 2000 Tower Oaks Boulevard (TowerOaks.com) in Rockville, MD. The project is the first multi-tenant commercial building in the Washington area with LEEDŽ Platinum Certification. The building was awarded the 2009 National Association of Industrial and Office Parks (NAIOP) Best Green Building of the Year, the 2009 Peerless Rockville Preservation Award and was certified as the first LEEDŽ Platinum office building in the State of Maryland which qualifies the project for Maryland Green Building Tax Credits. Lerner’s new corporate headquarters, located in 2000 Tower Oaks Boulevard was recently certified LEEDŽ CI Gold by the United States Green Building Council (USGBC) and was awarded the Metro Washington Chapter of the Associated Builders and Contractors (ABC) 2009 ‘Excellence in Construction’ Award.
Other building awards include the 2009 Honor Award for Design Excellence in the Fairfax County Exceptional Design Awards Program for 1800 Tysons Boulevard in The Corporate Office Centre at Tysons II. NAIOP awards have also been awarded for Fallsgrove Village Office Center; 1650, 1750 and 1800 Tysons Boulevard; and 21000 Atlantic Boulevard in The Corporate Office Park at Dulles Town Center.