Located where Sunset Hills Road and Reston Parkway meet, the structure is half of a two-building office complex that is connected to Reston Town Center by a pedestrian bridge. The nearly identical buildings occupy ten acres and offer Class A office space, as well as two integrated parking decks. Average rent for One Discovery is listed in the high $30s per-sf, and Boston Properties expects its half of the total investment in the development of the complex to be about $43 million.
Law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C.--which has space in One Discovery Square--has also committed to taking on space in the newer structure. It will occupy the second building's entire top floor, which is 22,386 sf in size.
Microsoft will occupy the first four floors of the building. With the help of representative Julien J. Studley, Inc., Microsoft had been searching the market for the appropriate space since early 2001. "After looking around, their desire was to have tow road visibility, and they wanted their name on the building," Julien J. Studley's Laurent Myers explains to GlobeSt.com. "They also wanted a high quality building and they liked the Reston Town Center area."
Myers says the company will use a large portion of the space as meeting and presentation areas, and the remaining square footage will serve as office space. Speaking about Microsoft's choice of location, Myers adds, "I think it's indicative that high quality tenants are still actively pursuing space in the market--and they're looking hardest at the high quality spaces." Because of a non-disclosure agreement between the parties, Myers is unable to disclose the business terms of the deal between Microsoft and the building's owners, who were represented in this deal by Prospective, Inc.
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