Washington, DC – Cassidy Turley announced today that two leases have been completed at 1355 Piccard Drive, a 130,000 square foot office building in Rockville, MD. Standard Solar, a full-service, turn-key solar electricity system developer and integrator, signed a new lease for 17,500 square feet. A current tenant of the building, Savantage Solutions, has signed a renewal and expansion totaling 22,000 square feet. Savantage Solutions is a consulting firm providing technology and support solutions and services to Federal agencies.
Cassidy Turley’s Rocky Kern and Brendan Cassidy handle the leasing of the building for the owner, Brookfield Real Estate Opportunity Fund (BREOF), a fund sponsored by Brookfield Asset Management. Jon Olmstead and Richard Rhodes of CRESA Partners represented Savantage Solutions on their renewal and expansion, while Mindy Saffer of West, Lane & Schlager represented Standard Solar.
“We are very pleased with the addition of Standard Solar to our roster of first-rate tenants at 1355 Piccard Drive. We look forward to welcoming them in June 2010,” commented Rocky Kern, Senior Vice President of Cassidy Turley. “Savantage Solutions has been an excellent tenant at the building for over 15 years and we are pleased to know that they will call 1355 Piccard home for at least another 10 years.”
Located just off I-270 in the heart of the Shady Grove submarket, 1355 Piccard Drive is known for its convenient location, award-winning architecture, onsite deli and ample tenant parking. The building is 86 percent leased with 17,896 square feet of office space available.
About Brookfield Real Estate Opportunity Fund
Brookfield Asset Management sponsored and manages two Real Estate Opportunity Funds with $1.8 billion in assets under management comprised of approximately 16 million square feet of commercial office, industrial and multifamily residential properties. Brookfield Asset Management has over $100 billion of assets under management focused on property, renewable power and infrastructure. For more information, please visit the company’s website at www.brookfield.com.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider in the U.S., with 420 million square feet of managed space, 58 offices, 19 national markets, and more than $13 billion in completed transactions for 2009. Outside of North America, Cassidy Turley partners with GVA Grimley, the founder and majority shareholder of GVA Worldwide. Cassidy Turley serves owners, investors and occupiers by offering integrated, tailored solutions across a full spectrum of commercial real estate services including capital markets, corporate services (which supports more than 25,000 locations), project leasing, property management, project and development services, and tenant representation. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey. Please visit www.cassidyturley.com for more information about the company.
Maureen Wheeler 202.463.1138