Environ Stays Put with Five-Year Lease Renewal

ARLINGTON, VA-The class A building at 4350 North Fairfax Dr.–also known as the Ellipse at Ballston–will continue to serve as home base to Environ International Corp. as the technical and scientific consulting firm renews the lease on its 28,000-sf office space for an additional five years. The financial terms of Environ’s deal have not been disclosed, but according to Advantis Commercial Services’ Mid-Year 2003 Office Report, similar space in the Rosslyn-Ballston corridor rents for an average of $30.25 per-sf.

Situated in an easily accessible spot off I-66, the 15-year-old Ellipse at Ballston offers 196,000 sf of office space among its nine stories. With Environ’s lease renewal, which was facilitated by Transwestern Commercial Services, the property is 74% occupied. Lincoln Properties represented building owner New Boston Fund LLC in the transaction. Other tenants at the Ellipse at Ballston include Arlington County, Cable & Wireless and Haley Bader.