Command Security Corp has leased 10,435 square feet of office space at 512 Herndon Parkway in Herndon, VA, which it plans to use as its new headquarters, according to a filing with the Securities and Exchange Commission.
The transition of corporate functions to this address is expected to be completed this week.
The term of the Lease is for twelve years, which commenced on January 14, 2013 and expires on January 31, 2025.
No rent will be due during the first twelve months of the Term.The Company’s obligations for the full twelve year Lease term are approximately $2.4 million.
Rent shall be $17.95 per square foot per annum for the first three years of the Term, with rent increasing three percent over the prior year’s rent amount for each year thereafter for the duration of the Lease.
After the first twelve months of the Term, the Company must pay FP Van Buren, LLC for the Company’s share of increases in certain operating and property tax expenses in addition to the base rent.
Built in 1985, 512 Herndon Parkway in Herndon, VA is part of the Van Buren Office Park off Fairfax County Parkway. The property consists of five, single-story office buildings totaling 108,299 square feet on approximately 9.4 acres of land. The property is equidistant to Reston Town Center and Worldgate Plaza.