Studley's Paul Schweitzer represented the school in the lease agreement with property owner Prudential, which was represented by Monument Realty's Bethany Allen and Dough Olsen. Further details of the transaction have not been disclosed. The average rental rate for premier office space in the Ballston submarket, according to Cushman & Wakefield's Year-End 2005 MarketBeat Series report, is $34.09 per sf.
"Westwood needed well-located space in a Metro-accessible building for its second Northern Virginia campus," Schweitzer says. "The Ballston Point space not only fit the school's location requirements, but it also allowed for a separate, street-level entrance for the school and its bookstore--a necessity for a school of this size." Westwood plans to commence its first sessions in August.
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