STERLING, VA–Paramount Transportation is taking a full building lease at Duke Realty's TransDulles Center – that is, 24,050 square feet at at 22633 Davis Dr.
Junius Tillery from Newmark Grubb Knight Frank represented Paramount Transportation in the transaction, while Duke Realty was represented by Battista Orcino with Duke Realty.
Duke Realty's portfolio in TransDulles Centre consists of three office and 13 industrial buildings totaling 1.0 million square feet. It is one of two major sources of new industrial space delivering into the Dulles Corridor, the other being Northwoods, a 2.1 million square foot master planned business park owned by Northwestern Mutual. Their capacity, though, is limited meaning that the industrial market's vacancy rate will likely remain in the sub 6% level for the next few years.
Indeed, the ongoing interest for space coupled with the limited availability in the TransDulles submarket convinced Duke Realty that it could support a spec project. That, as it happened, was quite the case: a few months ago it delivered a spec building — TransDulles Centre 46213 — fully leased to two tenants. 1-800-Pack-Rat will occupy 73,005 square feet, while Total Filtration Services will operate from the remaining 20,800 square feet.
STERLING, VA–Paramount Transportation is taking a full building lease at Duke Realty's TransDulles Center – that is, 24,050 square feet at at 22633 Davis Dr.
Junius Tillery from Newmark Grubb Knight Frank represented Paramount Transportation in the transaction, while Duke Realty was represented by Battista Orcino with Duke Realty.
Duke Realty's portfolio in TransDulles Centre consists of three office and 13 industrial buildings totaling 1.0 million square feet. It is one of two major sources of new industrial space delivering into the Dulles Corridor, the other being Northwoods, a 2.1 million square foot master planned business park owned by
Indeed, the ongoing interest for space coupled with the limited availability in the TransDulles submarket convinced Duke Realty that it could support a spec project. That, as it happened, was quite the case: a few months ago it delivered a spec building — TransDulles Centre 46213 — fully leased to two tenants. 1-800-Pack-Rat will occupy 73,005 square feet, while Total Filtration Services will operate from the remaining 20,800 square feet.
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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.
