Advance Realty Announces Three New Lease Transactions Totaling 68,000 Square Feet at Properties in Northern Virginia
Advance Realty, a leading Northeast owner and developer of Class A office, mixed-use and flex-space properties, today announced three new leases at office buildings the company owns in northern Virginia.
“This leasing activity is a reflection of the high-quality work environment afforded by Advance’s Virginia portfolio,” said David Fisher, senior vice president and regional managing director for Advance’s Washington, D.C. region. “We are extremely pleased to welcome three new companies as tenants of our buildings, and are confident that the numerous advantages offered by these properties will enhance the companies’ business operations now and into the future.”
As part of the recent leasing activity, Lane Construction Corporation and SRC, Inc. have each signed new leases at Avion Office Park, a 188-acre office park in Chantilly, Va., that features a deli, fitness center and three miles of jogging trails with fitness stations.
Lane Construction Corporation, a road construction firm, has leased a full floor – totaling 20,041 square feet – at 14500 Avion Parkway, a four-story, brick building within the office park. Previously, the company occupied space at a building elsewhere in Chantilly and decided to relocate to Avion due to the office park’s numerous on-site amenities and location advantages.
Cecilia Valois of Long & Foster represented Lane Construction in the transaction, and Carter Byrnes of CB Richard Ellis represented Advance Realty.
Also at Avion Office Park, SRC, Inc., a government contracting firm, has leased a total of 43,767 square feet of space at 14685 Avion Parkway, in a transaction that Advance was able to facilitate in just one week in order to meet SRC’s occupancy requirements. Mark Bethmann of The Bell Group, LLC represented SRC, Inc. in the transaction, while David Fisher represented Advance Realty.
The leasing activity also includes a 5,000-square-foot lease with Shirley Contracting Company, LLC at 45240 Business Court in Sterling, Va. Previously, Shirley Contracting Company, a road construction firm, had been a sublease tenant of 45250 Business Court, a 71,750-square-foot, Class A office property that features extraordinary office space complimented by a dramatic two-story atrium with rose marble and mahogany wood paneling.
The new lease marks Shirley Contracting’s decision to lease space directly from Advance Realty at the building, due in large part to its strategic location. Situated near the Dulles Toll Road and Route 28, 45240 Business Center is located in a campus environment that includes an on-site hotel in addition to other amenities.
James Palmer of Millennium Realty Advisors represented Shirley Contracting in the transaction, and Terry Reiley of CB Richard Ellis represented Advance Realty.
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.
