Located immediately off the Dulles Airport Access Rd. near Fairfax County Pkwy., Monument I is part of the four-structure, 790,000-sf Worldgate Center office complex. The seven-story class A property was developed in 1998 by Monument Realty and is currently owned by Prudential Insurance Co.

"The timing was right given the diminishing blocks of large contiguous office space in the Reston/Herndon area," Cushman & Wakefield executive director Brian Raher says. Raher and colleague executive director Robert Sheehy represented ITT, while Mike Shuler of Millennium Realty Advisors spoke for the property owner.

Financial terms of the transaction are presently unavailable; however, current office leasing statistics offer some idea of how much office space in the area commands on the market. According to Advantis Real estate Services Co.'s Year-End 2004 Office Report, the average rent for class A space in Herndon is $23.75 per sf.