RESTON, VA-Penzance announced it has signed another 30,000-square-foot lease at its Parkridge Center Four here--this time with ScienceLogic. The lease follows on the heels a 30,000-square-foot lease it signed with NetWitness in the same building.
ScienceLogic will occupy the second floor and half of the third floor. The move is a relocation for the company, but it also represents positive absorption for the submarket, as it is expanding four times their previous space.
Parkridge Center Four is a six-story, 120,000-square-foot, class A building off the Dulles Toll Road at the corner of Hunter Mill Road and Sunrise Valley Drive in the Parkridge Center office park. The building is now 85% leased. Other tenants include Qwest, NetWitness, Avenity, GS5 and Logostech. Andy Klaff, Jake McInerney and John Dettleff of Grubb & Ellis represented Penzance in the deal. Rich Rhodes, Russell Canard and Aaron Berkey of CresaPartners repped ScienceLogic.
Although they are few and far between, there are signs that occupancies in the outer suburbs are picking up. In nearby Herndon, Brandywine Realty Trust inked a total of 227,962 square feet at its office building at 2291 Wood Oak Dr.
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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.
