RESTON, VA-International Business Machines Corp.—more frequently known as IBM–has committed to taking nearly 100,000 sf in the Sunset Corporate Plaza. Financial details of the computer company's lease are not available, but IBM did sign on to occupy the space for a 10-year period. Leasing rates for similar office properties in the area go for about $25.60 per-sf. Others involved in the deal include Trammell Crow Co, which represented the property's owner, Principal Capital Management. Manekin LLC stood in for the tenant in the transaction.
Sunset Corporate Plaza is located within the bounds of the well-traveled Dulles Corridor just outside the Dulles International Airport. “Principal Capital Management is pleased to have an investment grade tenant of IBM's stature lease its entire building for 10 years,” says Trammell Crow senior vice president Tom Cresce. “This transaction is great news for a market that has experienced little demand of late.”
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