Orbital Sciences

Challenge:

Orbital was expanding rapidly and determined that they need to grow on a small parcel of land they owned next to their current leased building.

Solution:

After evaluating multiple alternatives, the Larsen team determined a more optimal solution for Orbital would be to purchase the adjacent 48 acres under a sale-leaseback arrangement and develop a new interconnected campus for their real estate needs. Larsen evaluated the pros/cons of traditional leases, synthetic leases, and bondable leases, then analyzed sale vs. lease options. We negotiated the purchase of 48 acres of land, created RFPs, then secured a project architect, construction manager and developer for the project.   The ultimate buildout was a 3-building, interconnected campus of 365,000 sf in leased build-to-suit office buildings. A key part of the transaction was selling the land to a landlord who developed the campus and leased it back to Orbital.

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