The Challenge
• The Girl Scouts purchased 601 Valley in the early 2000’s when their employee numbers and work style made sense for the style of building. In 2016, under new leadership, it was a focus to analyze real estate holdings, determine value and whether building size and location served the employee base and troops as well as it could.
• It was decided that the current Headquarters at 601 Valley missed on some of these criteria and was potentially hurting the Girls Scouts ability to create a working environment that met the standards of the organization.
​
• The real challenge was selling the building, getting out early from a non-favorable bank loan and finding and designing a new HQ, all during a time of year that was extremely busy for the organization.
Strategy
• What was referred to as the, “Two Prong Approach”, we created two, equally important, requirements of selling the building and finding a new HQ.
• One requirement could not move too far ahead of the other and vice versa as timing had to line up perfectly for this to be a successful transaction. We knew the buying market was strong enough to market the building at an aggressive price point while beginning our search for a new HQ immediately.
• Through employee engagement surveys and interviews, we planned to find the most ideal submarket for the new location, doing much of the planning and strategy before touring – a process that saved us time down the road.
Results
• Sold 601 Valley at $393/foot – a high watermark for the submarket at the time.
• Negotiated a 12-year lease at Georgetown Squared – an up and coming building in a desired submarket.
• Designed a space that was current, efficient and crated the synergy that GSWW was looking for.
• Joined the board as our experience with them as a company was so phenomenal.