Brandywine Realty Trust reports 60,000 square feet in Virginia leases in first quarter
- April 30, 2012
Northern Virginia and Richmond continued to be strong markets for Radnor, Pa.-based Brandywine Realty Trust. At the end of the first quarter, the real estate investment trust reported two deals totaling nearly 46,000 in Northern Virginia. Altogether it saw 88,298 square feet worth of transactions in metro Washington, D.C.
NTT America renewed and relocated a 22,079-square-foot lease and signed a 3,974-square-foot expansion at 13825 Sunrise Valley Drive at Dulles Corner. In addition, Guident Technologies renewed a 20,508-square-foot lease at Presidents Plaza II in Herndon.
Meanwhile, in Richmond, an undisclosed tenant renewed a 17,380-square- foot lease at Boulders VII. Plus TLK renewed a 7,502-square-foot lease and signed a 2,985-square -oot expansion at Gateway Centre Two.
Altogether, these deals were among a total of 740,168 square feet of new and renewal leases that the REIT handled during the first quarter. “First quarter leasing activity was in line with our business plan,” Gerard H. Sweeney, president and CEO, said in a statement. “ ... As a result of our activity level, our 2012 leasing plan is now 80 percent achieved.”