Shrinking Stable of Available Space at Air Rights Center

BETHESDA, MD-Research and consulting firm Abt Associates Inc. and the US Department of Health and Human Services have become the latest tenants to stake a claim in the 700,000-sf Air Rights Center. The two organizations have signed on to lease 30,000 sf and 15,000 sf, respectively, at the three-structure, mixed-use complex. Acting on behalf of the owner, TIAA affiliate Bethesda ARC LLC, Spaulding & Slye Colliers markets space at the property for anywhere from $25 to $33 per sf, depending on the building.

The four-decade-old Air Rights Center underwent a massive rejuvenation project in the 1990s, courtesy of Spaulding & Slye’s construction services team. “In the past 12 months we have seen a large number of new, renewal and lease expansions even in what is still considered by most a soft market,” Spaulding & Slye vice president Bernie McCarthy notes.