WASHINGTON, DC–AvalonBay Communities is taking 73,000 square feet of office space in over three floors of the 4040 Wilson development, a project by The Shooshan Cos. and Brandywine Realty Trust to build a vertical, mixed use building in Ballston. AvalonBay's lease brings the commercial component of the building to 50% preleased. The REIT is taking space on the 8th, 9th and 10th floors and a portion of the 7th floor, leaving approximately 117,000 square feet of office space still available.
Construction on 4040 Wilson will begin in the first quarter of 2018 and AvalonBay will occupy its new space upon delivery in the second quarter of 2020. JLL's Herb Mansinne and Robert VeShancey represented the landlord in this transaction.
Shooshan and Brandywine had been planning to develop this last building in the Liberty Center project for a while. Last year, though, Shooshan decided that instead of a pure office building for the final project in the five-asset complex, it would create a vertically-integrated mixed-use building instead.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
