Commercial real estate round up, 5/24/10
- May 24, 2010
WASHINGTON, D.C. — Perkins Coie has signed a long-term, 56,294-square-foot lease to relocate and expand its offices to 700 13th St. NW. The law firm, which presently occupies nearly 44,000 square feet on 14th Street, expects to move by January 2011. Over the last two years, the number of attorneys in its D. C. office has doubled. Studley represented Perkins Coie in the lease transaction.
WASHINGTON, D. C. — Construction will begin this fall on a new, 330,000-square-foot headquarters for National Public Radio. The media firm picked UK-based Balfour Beatty Construction to manage construction at the site of a former telephone company warehouse on North Capitol St. NE. The warehouse will undergo renovation and connect to a new structure with three below-grade levels and seven above-grade levels of office and studio space. NPR plans to move into the new facility by 2013. Boston Properties is serving as development manger.
SPRINGFIELD — Corporate Office Properties Trust plans to build a 1 million-square-foot office park near Fort Belvoir. The Columbia, Md.-based real estate investment trust will begin work on the first 240,000-square-foot office building at a 15-acre site known as Patriot Ridge during the fourth quarter. The park is next to a new headquarters that’s underway for the National Geospatial Intelligence Agency. Fort Belvoir is expected to expand by 19,300 workers as a result of the Pentagon’s Base Realignment and Closure plan.
CULPEPER COUNTY — Teremark Worldwide has purchased 27 acres of land for $5 million next to its existing data center campus, so it can expand operations. The acquisition gives the Miami-based company the ability to add 250,000 square feet of data center space and 100,000 square feet of office space, which would double the size of the NAP of the Capital Region Campus. Terremark, a global provider of IT infrastructure services, said in a statement that 65 percent of the campus’ existing data center space is under contract. It purchased the land from a local developer.
ROANOKE — North Roanoke Plaza, a 16,040-square-foot retail strip center on Peters Creek Road, sold for $917,500. It was purchased by North Lakes Center LLC as an investment. Thalhimer, a member of the Cushman & Wakefield Alliance, handled sale negotiations.