In a statement, LCOR said that Northern Virginia is a leader in the nation's multifamily market with low vacancy rates and rent growth of 12.2% in 2002, according to Delta Associates, a local real estate research firm. LCOR, with one of its six offices here in Bethesda, MD, has $11 billion of developments either completed, under construction or in development. Other local projects include the $600 million U.S. Patent and Trademark Office campus in Alexandria, VA, and the $500 million White Flint Metrorail mixed-use development in North Bethesda, MD.
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