Skyline, Washington D.C., USA --- Image by © Larry Fisher/Masterfile/Corbis
Case Studies
3833 N Fairfax Drive
GUHC

Full Building Medical Tenant Representation
3833 N. Fairfax Drive, Arlington, VA

John Duffy and Paul DeFilippes represented Georgetown University Hospital (GUH) in full building lease for GUH suburban expansion strategy. Building completely renovated to become state of the art medical center with multiple specialties.

Below market rent, significant rent abatement, all improvements paid by landlord (including additional elevator), free parking.

1396 Piccard Drive
GUMC

Full Building Medical Tenant Representation
1396 Piccard Drive, Rockville, Maryland

Paul DeFilippes and John Duffy represented Georgetown University Medical Center (GUMC) for second full building lease of suburban expansion. 43,000sf, $19.05/sf rent, 2% annual escalation, free parking, $115/sf Tenant Improvement Allowance.

When MedStar took over GUMC strategy changed to disposing suburban locations. Duffy and DeFilippes subleased entire building to Kaiser Permanente for significant profit to MedStar.

4200 wisconsin 2015
MedStar

25,000 sf Medical Tenant (and Landlord) Representation
4200 Wisconsin Ave. Washington, DC

The tenant MedStar was looking in North Georgetown, not Tenleytown, to relocate its Pediatrics Department from the Georgetown Hospital campus. Landlord American University was looking for regular office tenant(s) not a medical tenant.

Summit introduced the two parties and illustrated the possible win-win of MedStar Pediatrics and OBGYN as a major tenant in 4200 Wisconsin Avenue with prominent signage, expansion, and preferred parking rights.

11333 Woodglen Drive
images

Lab Renovate to Suit Tenant Representation
11333 Woodglen Dr. North Bethesda, MD

Paul DeFilippes and John Duffy represented lab requirement of Bill Young Marrow Donors Program (BYMDP) and grant holder GUH in lease of 30,000 sf build/renovate-to-suit in North Bethesda/Rockville, MD. $22.65/sf rent, free parking for 3 years, Landlord constructed all base building improvements to accommodate BYMDP’s specialized lab use including mechanical, electrical plumbing, structure, etc. plus landlord had to provide $1,200,000 tenant improvement allowance above all Landlord required work.

2000 N 15th St
MedStar

Tenant Representation MedStar Health
2000 N 15th Street, Arlington, VA

Summit Commercial represented MedStar Health in a lease of 67,000 sf which expanded under the same economic terms to 87,000 sf. Rent fixed at $40.12/sf with no escalation throughout the lease, 2 years free rent, $70/sf tenant improvement allowance (also applied to expansion space), building signage rights, controlled long-term risk by 5% limitation on real estate tax and operating expense passthroughs/increases, and flexibility through significant expansion and contraction rights.

5454 Wisconsin Avenue
MedStar

Urgent Care Medical Tenant Representation MedStar Health
5454 Wisconsin Ave. Chevy Chase, MD

To make urgent care more accessible MedStar’s leased 4,112 sf of highly visible retail space with retail signage on Wisconsin Avenue in Friendship Heights. Landlord was looking for more traditional high rent retail tenant. Summit convinced landlord an urgent care tenant at lower rent with medical tenant improvement allowance would be best for this medical office building. $45.00/sf net, rent abatement, $50/sf improvement allowance, flexible 10 year lease with termination option after 5th year at MedStar’s option.

1145 19th st
MedStar

Medical Tenant Representation
MedStar Health 1145 19th Street, Washington, DC

Summit negotiated renewal, rent reduction and expansion. Majority of 13,836 sf space was for MedStar’s surgery center. Terms negotiated (in a situation where tenant had little leverage to relocate at the time) 5 Years, lease termination option after the 3rd year at MedStar’s option, $37.50/sf, – a significant rent reduction, $153,000 tenant improvement allowance paid by Landlord, new base year for operating expenses and real estate taxes.