New Lease of Leasing Activity at Milestone

GERMANTOWN, MD-Responsibility for leasing Milestone Business Park, a 36-acre office park consisting of two of what may ultimately be five buildings, has changed hands. Transwestern Commercial Services has been tapped by the property’s owners–a joint venture involving the Peterson Cos., Foulger-Pratt Cos. and Argo Investment Co.–to lease up the existing two structures, which consist of a total of 312,000 sf. The property is developable up to 500,000 sf. Transwestern’s Christine Masney tells GlobeSt.com that the Bethesda, MD office of real estate services firm CB Richard Ellis had the leasing assignment prior to Transwestern.

Milestone Business Park sits along I-270 and is adjacent to the popular Milestone Center, a one million-sf retail and restaurant destination. The park currently consists of a 132,000-sf combination office/flex building that is 100% leased, and a 180,000-sf office tower that is 100% vacant. Carrying the address of 12410 Milestone Center Dr., the building was previously occupied by Acterna.