Advance Realty Group Hosts Broker Appreciation Night
Advance Realty Group’s Washington, D.C. region, which is led by David Fisher, senior vice president and regional managing director, recently hosted a Broker Appreciation Dinner to acknowledge the region’s commercial real estate brokerage community for its continued support of Advance over the past year. 2005 was an extremely successful year for Advance Realty Group having closed over 300,000 square feet of lease transactions throughout its Washington, D.C. region with such notable tenants as The Epilepsy Foundation, Virginia Department of Transportation and The United Way.
“This event is our way of thanking all of our colleagues in the Washington, D.C. commercial real estate brokerage community for their continued support of Advance Realty Group,” said David Fisher. “The cornerstone of our success at Advance continues to be our long-term relationships with the brokerage community, our commitment to building and maintaining world class business environments and our ability to service the on-going needs of our tenants. Advance is extremely committed to continuing to reinvest in this marketplace and build on our established platform in the Washington, D.C. region,” Fisher added.
Over 50 commercial real estate professionals were in attendance at the event, which was held at The Mayflower Hotel in Washington, D.C. Several brokers received awards including “Deal of the Year” to Jim Cahill and Peter Berg of The Staubach Company for their representation of The Epilepsy Foundation.
Recent highlights recorded by Advance Realty Group in the Washington, D.C. region include:
Advance acquired the entire interest of its partner in Avion Business Park, Chantilly, VA. Advance is now the sole owner of nine buildings totaling approximately 800,000 square feet at this project, which is located in close proximity to Dulles Airport. Advance owns the majority of the buildings in the park and has long-term rights to acquire an additional one million square feet of future development.
Virginia Department of Transportation renewed its 122,279-square-foot lease at Avion Business Park in Chantilly, Virginia. CB Richard Ellis represented VDOT in this transaction.
Advance’s largest repositioning project in the Washington, D.C. region is 8301 Professional Place, which is located within the Company’s Metro East Business Campus in Landover, MD. Advance is completing a $9 million repositioning of this 140,000-square-foot office/R&D property. Responding to the Company’s vision and efforts, The Epilepsy Foundation signed a new headquarters lease at the facility for 32,647 square feet during the second half of 2005. Grubb & Ellis represented Advance in this transaction, while The Staubach Company represented Epilepsy.
Advance’s Washington, D.C. region portfolio encompasses an excess of 1.5 million square feet in 21, state-of-the-art Class A office buildings, which is currently 92 percent leased.
Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With 5.5 million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.