ADVISORY PLATFORM CASE STUDY: CREATION OF SPACE+

Anthony was the co-creator of Space+ during his time at WashREIT. Leveraging best practices in co-working, spec suites and marketing, WashREIT developed and evolved a unique branded town hall concept in its 2 million square foot office portfolio that resulted in leasing outperformance, even during the pandemic.

Space+ was launched in 2019 at Arlington Tower in Rosslyn, VA across three full floors totaling 62,000 SF. These floors were designed with spec suites built around shared common amenities (as depicted on the previous slide). The leasing results at this building from 2020-2021 are evidence of the value of this approach and provides a model that Silverline Equities brings to its projects. Anthony and his team continued to experiment and roll out Space+ projects across the entire region ultimately delivering in 6 buildings across more than 250,000 SF at various scales.

Brookfield acquired WashREIT’s commercial office portfolio for $770M, along with the Space+ brand and intellectual property rights. It is rewarding to see that Brookfield has since expanded the Space+ brand across its global portfolio as its own flexible office concept “powered by Brookfield Properties.”

• Absorption after Delivery 1.4 Months

• WALT (REIT accepted 6-mo leases) 40.5 Months (From 7 to 93 months)

• Total SF Leased 52,532

• Space+ Rent Premium 20.7%

• Core Factor 35%