The 200,000 sf federal building was the largest lease in Prince George's County in 2000. Delivery is slated for late 2002.
The building is phase one of a plan to redesign Prince George's Metro Center -- an existing 1.4 million sf of office space -- as a mixed-use development to be called University Town Center.
Cheryl Suggs, assistant director of leasing for PGMC, told GlobeSt.com that plans for UTC include an additional 1.5 million sf of office space; 250,000 sf of retail and entertainment space, including a movie theater; and up to 1,800 luxury apartment units.
The planned development is adjacent to the Prince George's Metro station, which provides light-rail service to the Washington area. Across the street is Prince George's Plaza, a one-level mall with 900,000 sf of space.
Prince George's County has struggled to develop high-end retail and residential properties, as growth continues in other D.C. suburbs. The county has passed laws restricting the design of apartment communities and retail properties, in hopes of limiting future development to upscale retail projects.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.