The 185,000-sf building is the second to get underway in the 4.5-million-sf office park, part of a 554-acre complex of shopping malls, hotels, entertainment venues and residences. A one-story, 95,000-sf building is under construction; eventually six million sf of office space may go up. Lerner won't comment on costs, but it is asking one of the submarket's highest rents, $31 per sf full-service. Brokers estimate the area's vacancy rate at about 4%.
New tenants will have plenty of company. The town center's 1.4-million-sf super regional shopping mall opened last year with more than 130 shops, restaurants and theaters. A Marriott Courtyard hotel is expected to debut in December. Residences include 1,100 apartments and townhouses and 406 luxury apartments that will go on sale this month. KCF/SHG of Washington is the architect for the high-rise. Tompkins Builders is the general contractor.
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