Office Building Fills Out Retail Segment

ARLINGTON, VA-Vesta Home has decided to bring its array of furniture and household accessories to the US with the opening of a store in the 16,000-sf street-level retail segment of the 215,000-sf the Hartford Office Building. Located in the Clarendon section of Arlington at 3101 Wilson Blvd., the Hartford is a nine-story class A property that is not yet one year old.

The home furnishings company committed to a long-term lease on the space with the Madison Retail Group, which represented building owner Akridge. Anastasia Kharchenko stood in for Vesta Home in the transaction. Financial terms of the lease agreement have not been disclosed and leasing rates at the Hartford are not openly advertised, however, Madison’s Eric Rubin offers GlobeSt.com some perspective on the asking rents in the building. “The general range is anywhere from $35 to $50-plus per sf for retail space in the Clarendon Market,” he says. “Our asking rents are somewhere in the middle.” Vesta Homes is planning a May opening for the store.