Advance Realty Announces More than 236,000 SF of Leasing Activity During Q3 Throughout D.C.-Area Portfolio
Advance Realty, a leading Northeast owner and developer of Class A office, mixed-use and flex-space properties, today announced that it executed more than 236,000 square feet of leases during the third quarter of 2010 throughout its 1.5 million-square-foot Washington, D.C.-area portfolio.
“Our strong leasing activity during the third quarter is a reflection of the high-quality office environments and amenities provided by Advance Realty’s D.C.-area properties,” stated David Fisher, Senior Vice President and Regional Managing Director for Advance’s Washington, D.C, region. “Our properties, such as Avion Business Park and Metro East Business Campus, are well situated near major thoroughfares and offer on-site amenities that are attractive to today’s businesses and corporations.”
Included in Advance Realty’s third quarter leasing transactions are three new leases totaling more than 30,000 square feet at office buildings the company owns in Fairfax County, Va. These leases are announced today and include:
• Covance Laboratories, Inc.: The pharmaceutical company renewed its 24,053-square-foot lease at Avion Business Park, located at 3635 Concorde Parkway in Chantilly, Va. Advance’s portfolio within the 188-acre office park consists of nine Class A buildings totaling 729,477 square feet. The park includes amenities such as a deli, fitness center and three miles of jogging trails.
• Quake Global, Inc.: A manufacturer of communicators for satellite networks, has signed a lease for 3,500 square feet of office space at Loudoun Plaza, a four-story, 71,750-square foot, Class A office property located at 45240 Business Court in Sterling, Va. The property, which is strategically located near the Dulles Toll Road, features extraordinary office spaces that are complimented by a dramatic two-story atrium with rose marble and mahogany wood paneling. The property’s campus also includes an on-site hotel.
• Verite Group: The software development company, already located at Loudoun Plaza, signed a lease for an additional 3,303 square feet of space, for a total of 8,279 square feet.
Other major lease transactions that Advance Realty executed, and previously announced, during the third quarter, include:
• Northrop Grumman Systems Corporation: The government contractor expanded its lease within the Metro East Business Campus in Landover, Md. The company now occupies the entire three-story, 60,860 square-foot, brick building located at 8300 Professional Place.
• SRC, Inc.: The government contracting firm leased 43,767 square feet of space at 14685 Avion Parkway, located within the Avion Office Park. Advance Realty was able to complete the lease transaction within one week in order to meet SRC’s occupancy demands.
• IRS/GSA: The federal agencies have renewed a lease for 39,258 square feet at 8100 Corporate Drive, a 90,753 square foot building also located within the Metro East Business Campus.
• Lane Construction Corporation: The road construction firm leased a full floor, totaling 20,041 square feet, at 14500 Avion Parkway, located within the Avion Office Park.
About Advance Realty
Advance Realty, headquartered in Bedminster, N.J., is an owner and developer of office, mixed-use, flex, industrial, retail and multifamily properties. The company, which entered the suburban Washington, D.C., marketplace in 1998, has offices in Landover, Md., and Chantilly, Va. Advance Realty presently owns in excess of 1.5 million square feet of space, including more than 900,000 square feet of properties in Northern Virginia, and more than 600,000 square feet of buildings in Maryland. Overall, with 4.5 million square feet of operating properties and a development portfolio consisting of 6 million square feet of commercial projects and 6,500 residential units, Advance is one of the leading real estate owners in the Northeast. For more information, call David Fisher with Advance Realty at 301-429-1170 or visit www.advancerealtygroup.com.