100,000 SF of Lease Transactions Add up at Renaissance Park

HERNDON, VA-Wrapping up nearly 100,000 sf in lease transactions, Renaissance Park at Dulles has just recommitted to a new tenant and signed up a new one. The 830,000-sf business park will continue to be the home of Laboratory Corp. of America, and will open its doors to a new tenant, the Federal Emergency Management Agency. Brokers Caulley Deringer and Beverly Sheffler of Transwestern Commercial Services orchestrated the deals on behalf of property owner OTR. Financial terms of the agreements have not been released; however, Transwestern markets space at the property for about $9.75 per sf industrial gross.

Renaissance Park occupies a 170-acre parcel adjacent to the Washington Dulles International Airport near the intersection of McLearen and Sully Roads. The property consists of seven industrial structures, as well as a 300-room hotel with conference center, restaurants, and a fitness facility. Laboratory Corp. renewed its claim on 80,000 sf in the 175,000-sf warehouse at13890-13904 Park Center Rd. for a 10-year period, while the US General Services Administration committed to a three-year lease on 17,500 sf of space for FEMA in the nearly 130,000-sf warehouse at 13998-13990 Park Center Rd.