BRAC Update 2010

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When originally announced in 2005, the recommendations of the Base Realignment and
Closure (BRAC) Commission were expected to result in:
• The relocation of between 35,000 and 56,000 jobs from Washington, D.C., Arlington
County and Alexandria, VA, and Bethesda, MD to Fort Belvoir, VA, Fort Meade and
Aberdeen Proving Ground, MD, and the Marine Corps Base in Quantico, VA.
• Significant changes in commuting patterns for an estimated 19,000 to 30,000
employees from Washington, DC, Arlington, VA, Alexandria, VA, Bethesda, MD to Fort
Belvoir and Quantico, VA.
• The relocation of a number of defense contractors due to federal agency moves. For
every one federal job, history has shown 1.1 to 3 contractors will follow.
• An impact on up to 15 million square feet of public and private sector office space.
Since the announcement of those recommendations in 2005, speculation has varied widely
on the impacts of BRAC-related moves on the DC-Baltimore employment market and
commercial real estate markets. This update explores the current and potential impacts
of BRAC on Northern Virginia (suburban Washington, DC) and Baltimore, including the
submarkets most likely to be affected, local employment trends, and the impact on office
space.
2005 BRAC
What is BRAC? According to the US Department of Defense, Base Realignment and Closure
(BRAC) is “a Congressionally authorized process that the Department of Defense (DoD) uses
to reorganize its military base structure to meet increased national security requirements”.
BRAC 2005 was the fifth round of this process, and focused on reshaping the DoD by
having multiple organizations share facilities. By statutory agreement, the realignment is
to be completed by September 15, 2011. The City of Alexandria and Arlington and Fairfax
Counties in Northern Virginia will be affected by the bulk of requirements for Fort Belvoir;
Anne Arundel and Harford Counties in Maryland will experience most of the BRAC changes
at Fort Meade and Aberdeen Proving Ground.
Base Realignment and Closure (BRAC) UpdateContents
2005 BRAC
1
Arlington County
2
Fairfax County, Fort Belvoir
3
Alexandria, Mark Center
4
Springfield/Newington
4
Anne Arundel County, Fort Meade
5-6
Harford County, Aberdeen
Proving Ground
7
Public & Private Sector Spending
8
Government Contractors
9
Impacts & Outlook
9
Appendix
10-11
Contacts
12
Base Realignment and Closure (BRAC) Update
DC − Baltimore Region November 2010

Although some BRAC-related moves are on track to meet the September 2011 deadline,
some relocations have been delayed. Not all BRAC-related office space will experience a
mass exodus by the deadline. In Arlington County alone, 900,000 square feet of office leases
have been extended through 2012; additional leases totaling 2.3 million square feet have
been extended through 2013 or later.
Even with a large amount of government-related office space vacated in the near term,
Arlington County projects total employment to grow in both Crystal City and Pentagon City by
almost 50 percent over the next 15 years.
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Arlington County could be the most significantly affected jurisdiction due to BRAC-related
moves by the Department of Defense and its private sector contractors. This is especially
true for Crystal City and Pentagon City. The BRAC relocations are expected to have a great
impact on the local employment base and office markets. Over 5.4 million square feet of
office leases in 47 buildings are projected to be affected in Arlington as part of BRAC-related
moves. This accounts for approximately 17 percent of total office inventory in Arlington
County, and approximately one-third of the inventory in the Crystal City submarket alone. In
fact, 3.7 million square feet of federal leases in Crystal City will be affected by BRAC.
Arlington County, Virginia
Arlington County: Release of Office
Space in BRAC
Arlington County Employment
Please refer to Appendix A for a detailed list of Arlington buildings affected by General Services
Administration (GSA) leases related to BRAC moves. Although these leases are related to BRAC,
there is the possibility that GSA may backfill some of these spaces with other federal tenants.
Source: Arlington Economic Development
Source: Arlington County Department of Community
Planning, Housing and Development
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2010 2011 2012 2013 2014 2015 After
2015
Square Feet
$billions
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
2010 2011 2012 2013 2014 2015 After
2015
Square Feet
$billions
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2005 2010 2015 2020 2025
Crystal City Pentagon City
$billions
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
2005 2010 2015 2020 2025
Crystal City Pentagon City
$billions
Ballston
Clarendon/Courthouse
Rosslyn
Crystal City/Pentagon City
SquareFeet

Fort Belvoir
Fort Belvoir, located in southeastern Fairfax County, will be the new location for the headquarters of several U.S. Army and Department of
Defense (DoD) agencies. As such, Fairfax County and its surrounding areas are likely to be greatly impacted by the BRAC plan. The area
appeals to DoD agencies and federal contractors due to its proximity to Washington, DC and the Pentagon. As one of the largest employers
in Fairfax County, Fort Belvoir currently employs over 29,000 civilian and military personnel. According to the Fairfax County Economic
Development Authority, employment on and off base at Fort Belvoir is expected to grow by almost 43% and will eventually accommodate
19,300 civilian and military personnel from BRAC-related moves.
Agencies and facilities moving to Fort Belvoir include:
• National Geospatial Intelligence Agency (NGA)
• A new 120-bed hospital with expanded specialty care facilities
(formerly medical care functions were provided at Walter Reed
Army Medical Center in Washington, DC)
• Missile Defense Agency
• Inventory Control Point functions from military bases in
Pennsylvania and Ohio
• Emergency Services Center (FBNA)
Currently, there are 20 separate building projects underway at Fort
Belvoir, both renovation and new construction. The projects total
almost 6.2 million square feet of office space and 7 million square
feet of parking structures with total construction costs estimated at
approximately $4 billion.
Fairfax County, Virginia
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Main Post Ft Belvoir North Mark Center Rivanna Station
Current BRAC Non BRAC
Source: Fairfax County Economic Development Authority
Fort Belvoir Employment Growth
Fort Belvoir Agency Moves
Agency Relocation Site Employment Square Feet Cost Delivery
National Geospatial-Intelligence Agency
(NGA)
Engineering Proving
Ground
8,500 2.4 M SF $1.77 Billion - new construction Spring 2011
Washington Headquarters Services (WHS) Mark Center - Alexandria 6,400 1.8 M SF $1.08 Billion - new construction Fall 2011
Fort Belvoir Community Hospital Main Post - Ft. Belvoir 3,200 1.275 M SF $807 Million - New Construction Spring 2011
Department of the Army Main Post - Ft. Belvoir 2,800 544,000 SF adaptive reuse and infill −
Program Executive Office - Enterprise
Information Systems (PEO-EIS)
Main Post - Ft. Belvoir 400 185,000 SF adaptive reuse and infill −
Joint-Use Intelligence Analysis Facility
(JUIAF)
Rivanna Station 1,000 170,000 SF $61 Million - new construction −
Missile Defense Agency (MDA) Main Post - Ft. Belvoir 292 99,000 SF $38.5 Million - New Construction Nov-10
Emergency Services Center (FBNA) − 50 14,700 SF $7.2 Million - new construction Early 2011
Dental Clinic − 77 14,900 SF $12.6 Million - new construction Fall 2011
North Regional Medical Command
(NRMC)
− 232 − $17.5 Million - new construction Fall 2011
Total: 22,951 6,502,600 $3.7 Billion
Source: Fairfax County Economic Development Authority

Alexandria, Virginia
Mark Center
When the BRAC recommendations were first announced, an estimated 7,200 jobs and 1.4 million square feet of space were to be transferred
out of Arlington County. Because of the great number of building sites transferring to Fort Belvoir and the lack of sufficient infrastructure,
the Department of the Army and the Commonwealth of Virginia agreed to limit the number of units moving to the Fort Belvoir Engineering
Proving Ground (EPG). Consequently, the Army searched for a site that could be developed as an “annex” to Fort Belvoir. To address this
requirement, Action 133 created Mark Center in Alexandria, in close proximity to the Pentagon. The Army purchased Mark Center land from
Duke Realty in September of 2008. With 6,400 jobs and 1.4 million square feet of office space, Mark Center will be one of the largest BRAC-
related projects.
Mark Center will accommodate personnel from multiple agencies and units that include but are not limited to:
• Washington Headquarters Service (WHS)
• Defense Human Resources Activity (DHRA)
• Office of the Secretary of Defense (OSD)
• Pentagon Force Protection Agency (PFPA)
• Defense Technology Security Administration (DTSA)
• DoD Inspector General (DoDIG)
• DoD Education Activity (DoDEA)
The official groundbreaking on the Mark Center site occurred in March 2009. The building is being developed to meet the LEED Silver Rating
requirements and have a “campus like” atmosphere; it is set to meet the statutory deadline of September 15, 2011.
The office inventory in Springfield/Newington – in close proximity to Fort Belvoir -- is comprised of 3.5 million square feet in 77 buildings. The
majority of the Springfield submarket’s inventory consists of freestanding office and industrial buildings. However, there are two existing office
parks in Springfield/Newington: MetroPark and Kingstowne.
As relocated agencies begin to settle in Fort Belvoir, Springfield will see demand for space from government contractors desiring proximity to
the respective agencies they support. Due to Springfield’s low vacancy rate and few large block options in existing buildings, new construction
may be the only way to meet new space needs.
• MetroPark: MetroPark buildings currently under construction include MetroPark VII -- fully leased to VSE Corporation, and MetroPark
VI -- where the Tauri Group preleased 75,000 square feet. MetroPark VII broke ground in the second quarter of 2010 and is scheduled
to deliver in the fourth quarter of 2011. MetroPark VI broke ground in the third quarter of 2010 and is scheduled to deliver in the first
quarter of 2012.
• COPT/Patriot’s Ridge: Corporate Office Properties Trust (COPT) broke ground in the fall of 2010 on Patriot’s Ridge, located just beyond
the Engineering Proving Ground. This 240,000 square foot building is scheduled to deliver in 2012, but construction commenced
without any preleasing. COPT plans for the park to eventually accommodate five buildings totaling almost one million square feet.
Springfield/Newington, Virginia

Anne Arundel County, Maryland
Fort Meade
Fort Meade is located in Anne Arundel County, Maryland, southwest of Baltimore. It is one of the largest military bases in the United States
and is home to the fourth largest workforce on any U.S. Army installation, hosting 40,000 military, government service civilian and contractor
employees. The National Security Agency (NSA) is the largest agency currently located on-base. According to the Installation Management
Community (IMCOM), Fort Meade generates $2.2 billion annually in contracts. BRAC-related moves will bring an estimated $550 million
annually in additional contracts.
As a result of BRAC 2005 decisions, Fort Meade will be the host facility for three DoD agencies that are relocating:
• The Defense Information Systems Agency (DISA) will relocate from its current location in Arlington, VA to Fort Meade, MD. It is the
largest agency moving to Fort Meade. DISA will absorb 1,000,000 square feet of office space in five buildings. The project is scheduled
to be completed in February 2011 and will be the largest office complex in Anne Arundel County.
• The Colocation of Defense/Military Adjudication Activities encompasses 152,000 square feet and will cost an estimated $51 million.
• Defense Media Activity (DMA) construction includes 186,000 square feet and will cost an estimated $78 million.
The relocation of these agencies also means
approximately 5,700 military, DoD civilians and
defense-related contractor employees will move
from other locations to work at Fort Meade.
In addition, the Howard County BRAC Office
estimates an additional 9,000 off-base jobs could
be generated due to BRAC moves.
Even with these agency relocations from across
the DC-Baltimore region, Fort Meade is expected
to retain many of its current employees. For
example, DISA expects to retain up to 75 percent
of its 4,300 workers from the Arlington move.
This could mean fewer new jobs for local hires
around Fort Meade. We would expect this figure
to be lower, as the distance from Arlington to
Fort Meade is over 30 miles and thus would
significantly impact the commuting patterns of
its workers.
Due to the expanded presence of government agencies at Fort Meade, developers and landlords can expect increased demand for office
space to accommodate federal workers and government contractors. Business parks closest to Fort Meade are likely to be the greatest
beneficiaries of BRAC-related demand. Planned construction in the area already has increased, though many of these developments have yet
to obtain financing or commence construction.
Growth
Components
Jobs on
Fort Meade
Jobs off Fort Meade
Total
Jobs
Current Jobs on Fort Meade 40,000 94,000 134,000
BRAC 5,695 9,000 14,695
Other 2,000 3,000 5,000
NSA 4,000 6,000 10,000
Enhanced Use Lease 10,000 2,000 12,000
Cyber Command (HQ) 2,000 14,000 16,000
Total New Jobs 23,695 34,000 57,695
Total Jobs 63,695 128,000 191,695
Source: Fort Meade Regional Growth Management Committee (RGMC)
Fort Meade Employment

Forte Meade Office Locations
Four notable business parks with up to 10 million square feet of developable office space are located in close proximity to Fort Meade:
• National Business Park (NBP), currently under development by COPT, is the closest business park to Fort Meade. One of NBP’s biggest
selling points is a bridge that connects the office park directly to Fort Meade. The project is scheduled to deliver multiple buildings
totaling 863,000 square feet by 2012. The southern portion of the business park is already 100 percent preleased.
• Konterra Realty’s Annapolis Junction Business Park is expected to benefit from BRAC-related moves as well. The National Security
Agency (NSA) awarded a contract to Konterra for a “Mega Center” -- a fully secured office building -- on a speculative basis. This park
will be built to Sensitive Compartment Information Facility (SCIF) standards. As part of the agreement with Konterra, NSA will outfit the
building with the appropriate infrastructure (IT, telecom, security).
• Independence Park at Odenton Town Center is planned for development by Halle Development. The 128-acre site adjacent to Fort
Meade can accommodate office buildings with up to 3.5 million square feet of space. Initial development would include two 150,000
square foot office buildings and a 1,200 space parking garage.
• Trammell Crow’s Enhanced Use Leasing (EUL) Development could contain up to 2 million square feet of development. The Army Corps
of Engineers awarded Trammell Crow EUL space at Fort Meade to accommodate federal contractors. While the land is not within the
gates of Fort Meade, it is still within close proximity.
The EUL program allows the military to partner with private industries by leasing underutilized assets to generate rent or receive “in kind”
services for the assets. This allows the military to lease land and/or buildings and receive income from on-base leased property. The
income from ground leases is typically up to 50 years.

Harford County, Maryland
Aberdeen Proving Ground
Aberdeen Proving Ground (APG) will be the Department of Defense’s center for communications and software development, resulting from
the relocation of the following commerce centers:
• Command & Control, Communications, Computers, Intelligence, Sensors & Reconnaissance systems (C4ISR)
• Army Test & Evaluation Command (ATEC)
• Joint Program Executive Ofﬁce for Chemical & Biological Defense (JPEO-Chem Bio)
• Medical Research Institute of Chemical Defense (MRICD)
As a result of BRAC, APG will experience job growth of 8,000 to 9,000 employees on base. Additionally, private sector contractors and
support-related workforce could generate 1.5 to 3 jobs per public sector job.
In addition, 28 new defense contractors have moved to Harford County and include:
MITRE – 54,000 square feet at North Gate
Raytheon- 80,000 square feet at The Gate
L-3 – 74,000 square feet at The Gate
CAC 1 – 60,000 square feet at The Gate
Boeing – 6,000 square feet at The Gate
General Dynamics – 10,000 square feet at The Gate
BRAC has enabled the following local contractors to expand:
Service Engineering
Booz Allen Hamilton
SAC
Northrop Grumman (Logicon Division)
ManTech
Logistic Management Institute (LMI)
RTR Technologies
Smith Detection

Public and Private Sector Spending
As the 2011 deadline for BRAC-related moves approaches, DoD spending on BRAC is
projected to drop significantly to $2.2 billion dollars in 2011. At the same time, overall DoD
spending is projected to hold steady or increase slightly in Northern Virginia and Maryland
through 2011. Though, there is risk associated with possible decreases in defense
spending. Secretary of Defense Robert Gates recently announced mandates for a 10
percent per year reduction (called 10, 10, 10) in defense contractor spending over the next
three years.
Northern Virginia and Maryland have traditionally received a large portion of Department
of Defense (DoD) spending. Additionally, government contractors have benefited from
increases in procurement spending. If we use historical growth levels as a guide to future
projections for DoD expenditures and procurement (contractor) spending, Fairfax County
alone could receive up to $14.5 billion in DoD Total Direct Expenditures and $13.6 billion in
procurement spending by 2011.
Department of Defense
BRAC Military Obligations
$-
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
$10.0
2008 act. 2009 act. 2010 est. 2011 est.
$billions
Source: Government Printing Office (GPO)
Total Direct Expenditures
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
2007 2008 2009e 2010p 2011p
Alexandria Arlington County Fairfax County Anne Arundel County
e = estimated p = projected
Source: US Census Bureau, GPO, Cassidy Turley
Total Procurement
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
2007 2008 2009e 2010p 2011p
Alexandria Arlington County Fairfax County Anne Arundel County
e = estimated p = projected
Source: US Census Bureau, GPO, Cassidy Turley
$billions
$billions

Government Contractors
The full impact of BRAC-related developments on local defense contractors remains uncertain. It is estimated that for every federal job
that moves, 1.1 to 3 government contractor jobs will follow. However, many of the contractors are already located in Northern Virginia and
Maryland and would most likely remain in their current locations, at least in the short term. The distances between contractors’ current
locations and the Mark Center or Fort Belvoir are not significantly different, although in the longer term, the resulting increases in traffic along
I-395 and I-95 may encourage businesses to move closer to Fort Belvoir, Fort Meade, and Aberdeen Proving Ground.
Since the announcement of the 2005 BRAC recommendations, the total net impact on the DC metro continues to evolve. According to the
latest information, we foresee the following:
• Over 5.4 million square feet of office space will be impacted in Arlington County, with approximately one third of the total office inventory
in Crystal City.
• While this presents a risk for the Arlington office market, it also offers a rare opportunity for redevelopment. As of this writing, Crystal City
recently approved a 40-year plan that will include major renovations or redevelopments of several buildings in the area.
• Although many agencies will meet the 9/15/11 deadline, many will need to extend their leases in order to buy time. In Arlington County
alone, one-third of BRAC-affected office space will be released in 2010/2011, while the other two-thirds will be released in 2012 or later.
• Some BRAC moves will have a “domino effect” on office buildings. For example, the National Geospatial-Intelligence Agency (NGA) will
vacate two buildings in Reston, Virginia as part of BRAC requirements. The Defense Intelligence Agency (DIA) will backfill space in these
buildings by relocating from the Clarendon and Skyline submarkets in Northern Virginia. The Federal Government will either need to find
new tenants for this vacated space, or the office space will need to be retrofitted for private sector use.
• Roads, infrastructure, and public transportation around Fort Belvoir, Fort Meade and the Mark Center will be stressed as commuting
patterns change.
• In the medium- to long-term, opportunities will exist for retail and housing to accommodate increases in employment at the Forts. In
contrast, areas from which a large number of jobs will be relocating (like Crystal City) could be negatively impacted.
• Plans change. When the BRAC recommendations were first announced, an estimated 7,000 jobs of the Washington Headquarters
Services were to relocate from Alexandria to Fort Belvoir, Virginia. Since then, 6,400 jobs are planned to transfer instead to the 1.4 million
square foot Mark Center in Alexandria in close proximity to the agency’s current location.
• Overall, regional DC-Baltimore employment should remain healthy in spite of BRAC moves. For example, jobs will relocate from Crystal
City in Arlington County to Mark Center in Alexandria. The two locations are located only a few miles apart from each other, thus the net
impact from this move should be minimal.
• Defense contractors will NOT move immediately to coincide with agency moves. Any private business relocations will happen gradually.
Moves will depend on the types and longevity of agreements contractors have with the DoD and existing lease agreements. However,
the areas with the most opportunity for increased office space demand are in close proximity to Fort Belvoir, Fort Meade, and Aberdeen
Proving Ground.
• Large defense contractors will be cautious about future growth projections. For instance, Lockheed Martin recently announced more
conservative 2011 revenue projections due to anticipated defense spending cuts by the Federal Government.
Impacts & Outlook

Appendix
Arlington County BRAC Affected Buildings
Address Building Name RBA (square feet) GSA Leases1
(square feet)
901 N Stuart St Ballston Metro Center 234,937 108,797
1010 N Glebe Rd One Ballston Plaza 140,000 56,0002
875 N Randolph St One Liberty Center 316,348 273,8632
4015 Wilson Blvd Tower 3 160,000 64,000
4040 North Fairfax Dr Webb Building 147,299 138,653
Ballston Submarket Total: 998,584 641,313
3100 Clarendon Blvd 3100 Clarendon Boulevard 242,358 182,264
2000 N 15th St Arlington Plaza 193,657 5,841
2300 Clarendon Blvd Courthouse Plaza 2 260,067 27,994
Clarendon/Courthouse
Submarket Total:
696,082 216,099
1400-1450 S Eads St 1400-1500 S Eads St 77,000 76,164
1919 S Eads St 1919 S Eads Street 98,750 9,484
400 Army Navy Drive 400 Army Navy Drive 235,983 202,434
2450 Crystal Drive Century One at Century Tower 389,732 78,789
1235 S Clark St Crystal Gateway 1 372,000 85,933
200 12th St S Crystal Gateway 4 206,500 73,761
201 12th Street S Crystal Gateway North 342,000 203,278
1801 S Bell St Crystal Mall 2 290,500 49,396
1851 S Bell St Crystal Mall 3 393,587 309,629
1901 S Bell Street Crystal Mall 4 278,700 82,186
2011 Crystal Drive Crystal Park 1 442,800 105,656
223 23rd St S Crystal Plaza 5 185,500 38,559
2221 S Clark St Crystal Plaza 6 177,500 77,683
1550 Crystal Drive Crystal Square 2 448,600 97,629
1750 Crystal Dr Crystal Square 3 242,100 205,575
241 18th St S Crystal Square 4 329,900 149,281
251 18th St S Crystal Square 5 308,700 27,440
2521 S Clark St James Polk Building 355,001 314,317
1411 Jefferson Davis Hwy Jefferson Plaza 1 278,332 111,3332
1421 Jefferson Davis Hwy Jefferson Plaza 2 271,285 337,9843

2800 Crystal Drive Potomac Gateway North 177,473 70,9892
2511 Jefferson Davis Hwy Presidential Towers 332,928 307,685
2530 Crystal Dr Zachary Taylor Building 558,187 486,909
Crystal City Submarket Total: 8,306,444 3,752,910
1101 Wilson Blvd 1101 Wilson Boulevard 330,528 41,641
1560 Wilson Blvd 1560 Wilson Blvd 126,000 50,4002
1815 N Fort Myer Dr 1815 N Fort Myer Drive 91,809 36,7242
1501 Wilson Blvd Art Associates 123,183 30,221
1515 Wilson Blvd Art Associates West 124,081 17,758
1555 Wilson Blvd Mill Court 170,767 35,026
1400 Key Blvd Nash Street Building 170,300 73,660
1401 Wilson Blvd Oakhill Ofﬁce Building 189,632 103,306
1700 N Moore St Rosslyn Metro Center 409,749 150,417
1777 N Kent Street Rosslyn Plaza North 263,462 242,532
Rosslyn Submarket Total: 2,413,237 803,368
Arlington County Total: 12,414,347 5,413,690
Number of Buildings
Affected
Submarket Submarket Total Ofﬁce
Inventory
GSA Leases1
(square
feet)
% Submarket
27 Crystal City 11,353,823 3,752,910 33.05%
12 Rosslyn 8,507,630 803,368 9.44%
5 Ballston 7,023,009 641,313 9.13%
3 Clarendon/Courthouse 4,580,232 216,099 4.72%
47 31,464,694 5,413,690 17.21%
Source: Arlington County Economic Development & Cassidy Turley
1
GSA leases related to BRAC
2
Estimated square footage based on market average
3
Combined RBA for 1421 and 1411 Jefferson Davis

Researchers’ information:
Cassidy Turley
Jeffrey Kottmeier
Director of Research
2101 L Street, NW
Suite 700
Washington, DC 20037
Tel: 202-463-2100
Sazshy Valentine
2101 L Street, NW
Suite 700
Tel: 202-463-2100
Carey Heymann
Market Analyst, Northern Virginia
2101 L Street, NW
Suite 700
Tel: 202-463-2100
Disclaimer
This report and other research materials may be found on our website at www.cassidyturley.com. This is a research
document of Cassidy Turley in Washington, DC. Questions related to information herein should be directed to the
Research Department at 202-463-2100. Information contained herein has been obtained from sources deemed
reliable and no representation is made as to the accuracy thereof. Cassidy Turley is a leading commercial real estate
services provider with over 2,800 professionals in 60 ofﬁ ces nationwide. The ﬁ rm completed transactions valued over
$13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and
supports over 25,000 domestic corporate services locations.

BRAC Update 2010

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