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Defense Dept. Renews 500,000-SF Lease

ARLINGTON, VA-The lease renewal at 2530 Crystal Dr. is one of a handful of huge leases that the government has signed in the DC area over the last several months.

By Erika Morphy | Updated on July 08, 2008

ARLINGTON, VA-The Department of Defense has renewed a lease for approximately 500,000 sf in an Arlington office building owned by Beacon Capital Partners, according to a source close to the deal. The term is for five years at a “market rate,” according to the source.

DoD is the sole occupant. The building, located at 2530 Crystal Dr.–otherwise known as the Taylor Building–is a 12-story, 547,930-sf office that was part of a 5.3-million-sf DC and Northern Virginia office portfolio that Beacon acquired from the Blackstone Group. The holdings come from what used to be Equity Office Properties Trust’s DC portfolio, before the company was acquired by Blackstone last year in a $39-billion cash transaction.

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