Challenge
A global nonprofit’s headquarters was located in Bethesda, Maryland on a campus that was prime for redevelopment and no longer supporting the organization’s operations. Additionally, the organization was experiencing financial pressures that led the them to seek assistance in evaluating how its real estate could be monetized in a way that also benefited long-term operations.
Solution
Allegro was engaged to assist the non-profit in conducting a highest and best use study of its current campus. Working with local staff and presenting before the organization’s international board, Allegro helped them make the decision to liquidate ownership of the campus in Bethesda and conduct a national site selection process for the relocation of its international headquarters. Allegro also assisted the non-profit in the selection of a developer for its Bethesda property and negotiated and structured a development agreement that met both the developer’s planning and construction time frame and the client’s need for time to conduct a relocation. The non-profit eventually decided to stay in the national capital area and relocated to Rockville, Maryland.
