Development of One Dulles Tower, once known as Waterview I, reached completion in early 2002. Located just three miles from the Washington Dulles International Airport at 13200 Woodland Park Dr., the 13-story tower--which is accentuated by an adjacent parking 1,575-space parking facility--has been fully leased to VeriSign Inc. The Internet and telecommunications networks infrastructure services provider, whose lease agreement is not scheduled to expire until 2014, will relinquish part of its space to Booz Allen and relocate those displaced offices to other company sites.

Cathy Ward, senior vice president for COPT's Asset Management/Leasing division, tells GlobeSt.com that the company does not disclose information on leasing rates for the property. However, Advantis Real Estate Services' Year-End 2003 Office Report indicates that the average cost for class A office space in Herndon, where direct vacancy rates are at a high 21%, is $23 per sf.