Financial terms of the lease and the development costs have yet to be released; however, class A office space in the Northern submarket of Prince George's County generally goes for $21.50 per sf, according to Advantis Real Estate Services Co.'s First Quarter 2004 Office Market Report.

Studley began the search for Greenhorne's new headquarters space in mid-2003--well ahead of the expiration of the company's lease on its current space. Working so far ahead in the future, build-to-suits were really the only options, Studley's Gary Faigen tells GlobeSt.com. "The building is in a great location for Greenhorne," he adds. "There is great access to I-95, which gives them easy access to their clients in Baltimore, Washington, DC, and Prince George's County."

The new building--the construction of which is scheduled to get underway later this fall--is just one facility in what will ultimately be a four-building office compound totaling 250,000 sf. Greenhorne will relocate to its new digs in December 2005.