Monument to Break Ground on 322,000-SF Project

ARLINGTON, VA-Monument Realty will be breaking ground on a 322,000-square-foot build-to-suit office project for Boeing here, now that a sequence of events have fallen into place for the project. One important milestone: the company secured $116 million in construction financing from RBS Citizens, N.A. and Sovereign Bank. That in itself is a major accomplishment given the size of the loan, Monument Realty’s Russell Hines tells GlobeSt.com. The fact that it is for Boeing, he says, “made it attractive to the lenders.”

Also falling into place for the project was the unanimous approval by Arlington County Board for the site plan amendment permitting the construction of the Boeing project and the land exchange of Monument’s Boundary Channel Drive site for Arlington County’s Crystal City site.