EDGE Commercial Real Estate brokers lease for new headquarters at The Tower Building
Stein Sperling Bennett De Jong Driscoll, PC, a multi-disciplined regional full-service law firm, has announced plans to move into a new 42,206 square foot headquarters space at the “Tower Building,” located at 1101 Wootton Parkway, in the Rockville section of Montgomery County, Maryland. The firm expects to complete its relocation by third quarter 2020 and elevate occupancy of the twelve-story, 290,000 square foot project overlooking Interstate 270 to nearly 86%. Marc Balamaci and Scott Mendelson of EDGE Commercial Real Estate represented the tenant and Kevin McGloon and Peter Rosan of Cushman & Wakefield represented the landlord, The Tower Companies in this lease transaction.
Founded in 1986, Stein Sperling will maintain and operate additional satellite offices in, Annapolis, Frederick, Langley Park and Wheaton, Maryland; as well as Falls Church, Virginia. Of the more than 130 employees of the firm, including 50 attorneys, the vast majority will relocate to 1101 Wootton Parkway next fall.
“Among the primary drivers of our real estate search was specifying a headquarters building that mirrored the high standards, corporate philosophies and integrity of our firm,” explained Stein Sperling’s Managing Partner, Jeff Schwaber. “In The Tower Building, we are moving into an iconic, classically-designed and highly-recognized landmark structure within the Montgomery County marketplace that casts an impressive image overlooking Interstate 270. We were impressed with the LEED Gold certification of the building, the restaurant and employee-centric amenities and its location within close proximity to the courthouse. We are especially excited to be able to have our name atop this beautiful building.”
A former Green Building of the Year, as chosen by the Apartment and Office Building Association of Metropolitan Washington, the building is contained within Tower Oaks, a mixed-use community consisting of more than 2.5 million square feet of commercial office, retail, residential and hospitality space. The Tower Building features an exterior comprised of Low-E glass that provides maximum daylight to the interior spaces, in addition to an HVAC system that completely turns over 100% of the indoor air every 55 minutes. The building is approximately 20 miles from the Washington, D.C. downtown business district and 25 miles from Washington Dulles International Airport.
“With five separate offices contained within the Rockville sub-market, Stein Sperling was interested in merging its various Rockville headquarters locations under one roof to improve operational efficiencies and reduce expenses, including the elimination of duplicative support service,” explained Marc Balamaci, Partner and Co-Founder. “The Tower Building was the logical landing spot for the firm given its close proximity to the Courthouse, coupled with the high profile nature of the building that matches the professionalism and stature of Stein Sperling.”
“Marc and his team brought fined-tuned knowledge and insights about the Montgomery County marketplace to this assignment, and they represented our interests extremely well in this real estate search,” Schwaber added. “It is clear that The Tower Companies takes an enormous amount of pride and pays extreme attention to maintaining a best-in-class environment at this building. These were important considerations in our final decision as well.”
EDGE Commercial Real Estate is a commercial real estate firm providing a full complement of advisory, leasing, investment sales and management services to clients with real estate holdings throughout the Washington, D.C., Maryland and Northern Virginia marketplace. Founded in 2007, the company currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space. EDGE operates offices in Maryland, Virginia, Washington, D.C. and Pittsburg, PA. Visit www.edgecre.com
