U.S. State Department
FD Stonewater represented Liberty Property Trust to execute this 400,000 SF lease renewal for a U.S. Department of State warehouse in Hagerstown, MD. The space is used for various storage, logistics, and warehousing missions. The creative renewal converted two 5-year options into one 15-year firm lease renewal in exchange for mission-related and security enhancements at the property. FD Stonewater improved upon the existing lease by providing the Government the opportunity to avoid out-of-pocket expenses related to improvements and creating immediate rental savings while substantially increasing the value of the asset by locking in a long firm lease term. The new lease structure was able to avoid triggering a drawn out and unpredictable prospectus process and resulted in a true win-win for both the Government and the Lessor.