FDA Renews 108,000-SF Lease

ROCKVILLE, MD-Offices of the US Food and Drug Administration will stay put at Shady Grove V, now that the US General Services Administration has signed a lease renewal for the entire 108,000-sf building on behalf of the federal regulatory agency. The decision to remain at the class A office facility came after much thought; the GSA had requisitioned the services of Equis Corp. to peruse the area for other options before deciding to remain at 9200 Corporate Blvd., where, an Equis spokesman tells GlobeSt.com, the FDA has made a home for the last decade.

The lease is for a five-year term, a typical timeframe for government leases. Financial terms of the agreement, however, have not been disclosed. According Delta Associates’ Year-End 2004 Washington-Baltimore Office Report, the average effective rate on leases of office space here was $27.55 in 2004.

Shady Grove V is just one of several buildings that constitute the 60-acre Shady Grove Executive Center, a premiere business park located in the I-270 Corridor. The four-story structure is also known by its street address, 9200 Corporate Blvd.