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Lean Supply of Space Drives Development and Quick Lease Deals in the Suburbs as Well

ROCKVILLE, MD-Tower Oaks office park sees negotiations for PG&E campus and Clarity Communications, while speculative development is in the works too.

By Mike Cleary | Updated on September 28, 2000

ROCKVILLE, MD-The Tower Oaks office park may plug in a California electric company soon. Pacific Gas & Electric’s National Energy Group is rumored to be in negotiations with The Tower Cos. to build a campus headquarters at the Tower Oaks office park near Interstate 270 here real estate officials say.

If a deal is concluded, the utility would build two buildings totaling about 480,000 sf on a site that is zoned for a million sf of development.

The Tower Oaks park has seen a lot of activity lately. Tower Cos. is building a 10-story, 275,000-sf speculative office building in the park near Interstate 270 and Montrose Road interchange, but the PG&E unit, based in nearby Bethesda, apparently is talking about building two other buildings.

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