New Cable Station Settles on DC Suburb

SILVER SPRING, MD-Executives behind TV One, a new cable channel targeting the adult African American market, have decided that the suburbs of Washington, DC are better suited to its headquarters needs than the District itself. The company has signed a lease for 16,000 sf at the Atrium at Station Square, a 200,000-sf office tower in downtown Silver Spring. Built in 1997, the building is a 13-story structure with the address of 1010 Wayne Ave. TV One presently houses its operations in the Lanham, MD headquarters of its parent company Radio One.

CB Richard Ellis assisted TV One with its search for space, and represented the cable channel in the lease transaction with property owner Moore & Associates Inc. The terms of the transaction have not been disclosed. However, Advantis Real Estate Services’ Year-End 2003 Office Report notes that class A and B office space in Silver Spring leases for $23.75 and $21.00 per sf, respectively. Speaking about the cable channel’s decision, Maryland Gov. Robert L. Ehrlich Jr. says, “The confidence that they have shown in Maryland is a testament to the state’s highly competitive, pro-business climate and our top-notch workforce in a technology-driven industry.”