John B. Levy & Co. Arranges $42 Mil Finance Package

LANDOVER, MD-John B. Levy & Company put together a $42 million financing package for a new build-to-suit office building for Computer Sciences Corporation. The 12-story building will be located across the Internal Revenue Services headquarters near the New Carrollton Metro Station.

The development of the CSC building is the largest private-sector real estate office investment in Prince George’s County’s history. CSC, in partnership with several other high-profile tech firms including IBM, SAIC and Unisys, recently won a long-term contract with the IRS to modernize its computer systems.

Construction of the CSC building, which is being developed by Berman Enterprises, is expected to begin in late summer and be finished within 18 months. It will include 325,000 sf of office space and the financing represents just under $130 per sf. CSC and its partners will occupy the building under a 10-year lease, according to John B. Levy & Co. officials.