The Staubach Co. represented KBR, while property owner Charles E. Smith Commercial Realty represented itself. Financial terms of the approximately 10-year lease have not been disclosed; however, Smith Commercial markets space in the 15-year-old building for $32 to $34 per sf.

"This is a new quality corporation coming to Crystal City, following on the heels of the PBS and BNA deals," Jim Creedon, executive vice president of leasing at Smith Commercial, tells GlobeSt.com. BNA acquired a 289,400-sf office property from Smith Commercial in June, and PBS leased 110,000 sf in a 276,000-sf Smith Commercial building last October.

Like those other transactions, the KBR lease is helping to fill up a nearly two-million-sf void among Smith Commercial's approximately 10 million sf of commercial holdings in Crystal City caused by the US Patent and Trademark Office's relocation to Alexandria, VA. According to Creedon, Park Five had about 260,000 sf vacant before KBR's lease commitment. KBR is planning to move to its new locale in December.