"The top three floors are already leased," Jeffrey K. Diamond, principal of Diamond Property Co., he tells GlobeSt.com, "and leases are pending for the first two-and-a-half floors, leaving part of the third floor, and all of four, five and six available." A financial services firm also has preleased space in the building in a plan to fill the first two floors. The latest count shows the class A product is 60% preleased.The project's leasing agent says space is renting for $42 per sf to $45 per sf. Construction is expected to begin this summer. The 2000 Tower Oaks Boulevard is a LEED-certified building, designed with heightened efficiencies for air quality, recyclable content, energy and water usage.
Diamond says he is involved with two other LEED-certified buildings in the Washington, DC area, both of which are being developed by Lerner Enterprises: 20 M Street SE and 1775 Tysons Blvd. in McLean, VA. "There is growing demand for this kind of space," he says. "I think it will be the wave of future development for office buildings."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
