Trucking Association Preleases 105,000 SF in 15-Year Deal

ARLINGTON, VA-A preleasing commitment by the American Trucking Associations Inc. has given a boost to development of the Regent, a new 270,000-sf office building that will sit at 950 N. Glebe Rd.

ATA will not only be the class A property’s lead tenant under a 15-year lease agreement, it will be a co-owner as well, having also acquired a stake in the development. In addition to ATA, the list of property owners now consists of the JBG Cos., Fidelio Properties Inc. and BFV Interim Finance bv, which also anted up the construction loan for the development. Parties involved in the change in ownership have not revealed details of the deal; however, ATA’s stake in the property is reported to be substantial.

Real estate services firm Studley orchestrated the aforementioned transactions and also arranged for the $28-million sale of ATA’s current 159,000-sf headquarters building at 2200 Mill Rd. in Alexandria to a joint venture involving Lane Development and Common Fund Realty. ATA will remain at its current home, a 115,000-sf space, under a sale-leaseback arrangement until its new digs are ready for occupancy sometime during the first quarter of 2007. The building itself is on schedule to reach completion in the third quarter of next year.