TIAA-CREF came through with the funds in the form of a seven-year fixed-rate loan with a loan-to-value rate of 75%. "HFF was able to work with the borrower and lender to close this deal quickly, just 38 days from the issuance of the commitment," says COPT senior managing director Bob Donhauser, who worked on the deal along with colleague senior managing director Bill Asbill. With regard to the owners' decision to refinance, GlobeSt.com is told that "it fits into their big plan to lock in a low interest rate."

Herndon's One Dulles Tower, a 404,670-sf structure built just two years ago at 13200 Woodland Park Dr., features an adjacent parking lot that can accommodate as many as 1,600 vehicles. In Chantilly, Greens II & III offer approximately 145,190 sf and 88,100 sf, respectively.

The structures--located at 15059 Conference Center Dr. and 4851 Stonecroft Blvd.--were built four years apart, with Greens II having been developed in 2000 and Greens III having just recently reached completion. Adding to the value of the property is a strong tenant base that includes such high-profile names as Booz Allen Hamilton, Verisign, the Aerospace Corp. and the Boeing Co.