Kaiser Renews its Commitment to WesTech

SILVER SPRING, MD-Kaiser Permanente has decided to continue occupancy at WesTech Business Park by extending its lease for an unspecified amount of time on a total of 113,000 sf of space at the 500,000-sf office and flex space compound. The healthcare company keeps a total of 155,000 sf of space in a few different buildings at WesTech for its office operations. Financial terms of Kaiser’s new agreements have not been disclosed, however Kathy Keller of Trammell Crow, which represented WesTech owner Grosvenor in the transaction, tells GlobeSt.com that the marketed rate for space in the buildings where Kaiser renewed its leases is $15.75 per sf.

The lease extensions are for 38,000 sf in the Allegany Building, 38,000 sf in the Garrett II Building, and nearly 37,000 at the Garrett III Building. Kaiser’s renewal at WesTech demonstrates, Grosvenor senior vice president Andrew Galbraith says, “the appeal of this established business park for tenants seeking favorable rental rates, convenient access, and a collegial working environment.”