MPRI Inks 126,500-SF Old Town Lease

ALEXANDRIA, VA-Government contractor MPRI, a division of L3 Communications, is preparing to move into its new digs next week at 1320 Braddock Pl., located in Old Town, now that its tenant improvements are complete. The company recently leased 126,500 sf in the seven-story building, occupying nearly the entire building. CB Richard Ellis’ Manny Fitzgerald represented MPRI in the transaction. Erik McLaughlin of CBRE’s McLean office represented the building owner, ING Clarion Partners.

“The landlord was very cooperative during the negotiations,” Fitzgerald, who is SVP at CBRE, tells GlobeSt.com. “It agreed to pay for the entire build-out, instead of just providing a tenant allowance for improvements.” Fitzgerald attributes that concession to the size of the lease–MPRI will be occupying stories two through seven as it moves into the building in phases. “The building owner’s marketing program was geared to securing a tenant that would lease half a floor to a couple of floors. MPRI is occupying virtually the entire building,” he says.