General Dynamics Renews 60,000-SF Lease at Washington Tech Park

CHANTILLY, VA-General Dynamics Government Systems Corporation has renewed its lease of 60,000 sf of space at 15000 Conference Center Drive, also known as the Washington Technology Park. Corporate Office Property Trust acquired the five-story, 470,400-sf building late last year for $58.2 million. The 13-year old building is fully leased but all contracts–which held an average length of 6.5 years–are scheduled to expire by 2004; General Dynamics’ lease is among the first to be renegotiated.

General Dynamics’ lease was scheduled to expire in December and the company had been paying $13.50 per-sf for the space. Transwestern Commercial Services senior vice presidents Paul DeFillippes and Brett Diamond represented the company in the deal, however, specific terms of the renegotiated contract are not available. Other tenants in the Class A office building include Dyncorp, Genuity, and Verizon. All six building tenants had been paying triple-net rents ranging from $13.50 and