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BAE SYSTEMS
3400 Airport Avenue
Santa Monica, California
10.4 acres / 200,000 sf

PROJECT TEAM
Gerald Porter
Matthew Miller
CresaPartners

Gene Sachs
CresaPartners

Dave Marino
CresaPartners

CLIENT OBJECTIVES
Dispose of a 10.4-acre site with 200,000 sf of existing buildings that BAE SYSTEMS acquired as part of another business. The goal was to sell the asset, lease-back the facility for 18 months, and then relocate to a new, more efficient, state-of-the-art facility. This was challenging due to the political environment relative to development, the complete absence of entitlements, the lack of an access easement and sensitivity to the existing employees. Additionally, BAE SYSTEMS wanted the escrow closed by the end of the year, leaving less than six months for marketing, documents and closing.

RESULT
To meet the short deadline, CresaPartners organized a team to complete a buyer’s due diligence in advance of the marketing. Complete site evaluations, phase one and phase two environmental reports, review of title, building inspections, traffic studies, site master planning, city and political consulting, entitlement review and market studies were completed prior to marketing. This allowed buyers to move quickly in negotiations and avoided false starts. Ultimately, the local community college was identified as the best buyer and favorable financial terms were negotiated. Escrow was closed three business days before the end of the year.

Additional Assignments

Lansdale, PA - Sublease Gaithersburg, MD - Sale San Diego, CA - Sale West Bernard Dr., San Diego, CA - Lease Syosset, NY - Sale/Lease-back Reston, VA - Lease Los Angeles, CA - Lease Santa Monica, CA - Lease El Segundo / South Bay, CA - Lease * McLean, VA - Renewal 11485 Sunset Hills Rd., Reston, VA - Lease Reston, VA - Lease/Purchase Agreement Ontario, CA - Renewal Newington, VA - Renewal/Lease Pomona, CA - Lease Arlington, VA - Renewal California, MD - Lease San Diego, CA - Lease California, MD - Lease * Huntsville, AL - Lease San Diego, CA - Lease Lexington, MA - Lease Lexington, MA - Renewal San Diego, CA - Lease 8930 Cinder Bed Rd., Springfield, VA - Lease Fort Worth, TX - Lease 2300 Clarendon Rd., Arlington, VA - Lease Fairfax, VA - Renewal Newington, VA - Lease Mt. Laurel, NJ - Lease Washington, DC - Renewal Fort Worth, TX - Lease Bellevue, NE - Renewal Newington, VA - Renewal 105 Lock St., Nashua, NH - Sublease Colorado - Lease Colorado Springs, CO - Renewal Chantilly, VA - Renewal Hampton, VA - Lease Warner Robins, GA - Lease Charleston, WV - Lease Dayton, OH - Lease FAA Contract / 11 new offices * Manassas, VA Nashua, NH San Diego, CA Montgomery County, MD	5.75 acres 4.67 acres 200,000 sf 200,000 sf 180,000 sf 162,675 sf 150,000 sf 150,000 sf 135,000 sf 135,000 sf 134,000 sf 134,000 sf 121,000 sf 110,000 sf 60,000 sd 59,750 sf 56,500 sf 53,000 sf 50,000 sf 40,000 sf 40,000 sf 31,000 sf 27,700 sf 25,000 sf 20,526 sf 19,975 sf 19,630 sf 18,288 sf 18,288 sf 16,180 sf 14,882 sf 11,905 sf 9,758 sf 9,500 sf 9,400 sf 2,000 sf 1,940 sf 1,656 sf 1,603 sf 926 sf 350 sf 150 sf Various Consulting Consulting Consulting Consulting
Dispositions
Santa Monica, CA - Sale Gaithersburg, MD - Sale Syosset, NY - Sale Austin, TX - Sublease	10.4 acres 2.67 acres 200,000 sf 60,000 sf

*In Progress

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