Construction is also under way on Tower IV, which will comprise seven stories and 189,500 sf of class A office space and retail space. Sam and Harry's steakhouse has pre-leased 11,430 sf in Tower IV, which is slated to come online concurrent with Tower III.
The 14-story, 287000-sf Tower III is now fully leased with the signing of Cable & Wireless USA. The Internet and data-services firm, which currently occupies all 230,000 sf of Tower I, has leased 275,000 of class A office space in Tower III.
The $225 million complex will boast just under 1 million sf of office space, a 165,000-sf retail center, parking for 4,000 vehicles and a landscaped plaza featuring a 10-foot waterfall.
"Plaza America is being delivered and leased in only six years, a phenomenal development track record," says David A. Ross, president of Atlantic Realty in a statement. The complex was originally scheduled for completion by the end of first quarter 2002.
Intertech Corp., New York City and Atlantic Realty, Tyson's Corner, VA are joint developers on the project. Centex Construction is performing base building construction for Towers III and IV. Weihe Design Group, PLLC is the project architect and Insignia/ESG is representing the developer in pre-leasing Tower IV.
According to Ross, residual benefits of the project include more than $5 million in transportation contributions by the developer toward funding infrastructure improvements including the widening and signalization of Sunset Hills Road and construction and maintenance of the North Reston Park-and-Ride facility.
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