Tower Oaks Nears Full Capacity With 32,000-SF Lease

ROCKVILLE, MD-The new 178,000-sf building at Preserve at Tower Oaks is now 98% leased with information technology services company EDS’ recent commitment to 32,340-sf of office space. EDS will have the seventh floor and a portion of the sixth floor of the seven-story building to call its own, and will move into the space this summer.

The lease is for a five-year term, but financial details of the agreement are not being released. However, during pre-leasing, rents were in the low $30 range. “It was the last large block of space we had,” Robert Kravitz of Transwestern Commercial Services tells GlobeSt.com. Kravitz and colleagues Ray Hite and Guy Copperthite represented the building owner Boston Properties in the deal. Jones Lang LaSalle stood in for EDS. Located just off I-270, the $38 million structure carries the address 2600 Tower Oaks Boulevard and is Boston Properties’ first building in the 87-acre business park. “The next building is ready to be built,” Kravitz says of the second structure, which will be called One Preserve Parkway. “We just need a tenant or tenants to lease at least half the [178,000-sf] building before we can break ground.”