Commercial real estate round up, 4/12/10
- April 12, 2010
Towers Crescent, the newest office building at Tysons Corner, has attracted a major tenant. This and other real estate news from around the state:
MCLEAN — MicroStrategy is leasing 140,000 square feet of space at Towers Crescent Plaza. The business intelligence software firm plans to move from its existing offices at 1861 International Drive, taking about half the space in the 295,000-square-foot, 13-story building — the only new office project that opened in the Tysons Corner submarket last year. Towers Crescent offers panoramic views of the area and is visible from the Capital Beltway. Jones Lang LaSalle represented the developer, Quadrangle Development. Corp, in the transaction.
FAIRFAX COUNTY — The county has purchased a vacant Circuit City store in Springfield for $4.5 million and plans to develop the 118,000-square-foot site into a commuter parking facility. It’s close to several Metrobus and Fairfax connector routes. The seller was Washington, D.C.-based Monument Realty.
SUFFOLK — East Point Plaza, a $4.1 million historic restoration project in downtown Suffolk, has officially opened. Commonwealth Architects was the lead architect in restoring the 103-year-old, three-building project, located on East Washington Street in the historic fairgrounds area. East Point includes commercial space and 32 residential loft apartments.
HENRICO CONTY — Ville Group Properties LLC purchased a 5,200-square foot office condo on Shrader Road from Whipple LLC for $572,000. It will be used as a dental office. Thahimer handles the sale negotiations.