The four leases total 28,178 sf and bring the building close to 95% occupancy, Matt Bundy, an agent with Transwestern tells GlobeSt.com. "There is around 10,000 sf – three office suites – remaining and we have activity on that space right now."
Bundy and Josh Masi represented FCP in these latest transactions.
The new tenants include Imagine One, which renewed and expanded taking 7,153 sf in the building for a seven-year term; Competitive Media Reporting LLC, which renewed its 3,057 sf lease for a five-year term; TWD & Associates, which has leased 8,030 sf for a seven-year term; and Advanced Systems Development, which renewed its lease on 9,938 sf for a five-year term.
Currently FCP is renovating the lobby and elevators, Bundy says, a project that should be completed within 30 days. The asking rental rate for space is $29.50 per sf.
FCP acquired Shirlington Gateway from MGP Real Estate for $55 million, according to Cassidy & Pinkard Colliers, which represented the seller in that transaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
