- The Washington Times - Monday, January 14, 2002

The first building in the Preserve at Tower Oaks, a new office campus in Rockville, is almost fully leased.Fairfax information technology company Anteon International Corp. plans to move into 17,000 square feet at 2600 Tower Oaks Blvd. this April.
That leaves roughly 35,000 square feet in the 178,000-square-foot building, but that space may not last long. Brokerage Transwestern Commercial Services, which handles leasing for the building, says it is working on a deal to rent most of the remaining space.
"It's a good-looking building in a great location. Tenants like it," says Bob Kravitz, a Transwestern senior vice president.
He will not name the company Transwestern is working with to take the remaining space, but says a deal could be signed in the next 30 days.
The seven-story building overlooks Interstate 270. Its major tenants include OTG Software, which leases about 90,000 square feet, and American Express Financial Advisors.
Developer Boston Properties hopes to eventually build more than 1 million square feet at the Preserve at Tower Oaks. The developer is planning a second building in the campus, One Preserve Parkway, which would feature 178,000 square feet.
In addition, Clyde's Restaurant Group, a local chain, is building an 18,000-square-foot eatery at the corner of Wootton Parkway and Preserve Parkway in the campus. It is expected to open this summer.
Anteon says it chose the Preserve at Tower Oaks because it wants to remain in Rockville. The company is relocating from a building at 3206 Tower Oaks Blvd., where it will leave behind about 19,000 square feet on three floors.
Anteon's new space in the Preserve will all be on one floor. "It's going to be a lot more efficient," says James Griffin, Anteon's director of business services.

New flex space
Regional developer MIE Properties has purchased 240 acres on Route 607 near Washington-Dulles International Airport. The company plans to transform the land into the 1.2-million-square-foot Beaumeade Technology Park, which will feature 17 single-story buildings that can be used as offices, warehouses or manufacturing plants.
The company is also developing the nearby Ashburn Technology Park, which will have 12 buildings with 840,000 square feet. Regional brokerage NAI KLNB will handle leasing for both parks.
There is roughly 21.6 million square feet of warehouse and industrial space in the area near Dulles Airport, according to real estate research group Delta Associates. Roughly 10 percent of the space is vacant, Delta says.

In other news
Crow Holdings has purchased the Navy Yard Metro Center for $68 million. Prudential Real Estate Investors sold the 275,000-square-foot office building at 80 M St. SE. Brokerage Spaulding & Slye Colliers represented Prudential.
Cornerstone Real Estate Advisors has sold an 80,000-square-foot office building at 1000 Vermont Ave. NW to the Bernstein Cos. for $16 million. Brokerage Transwestern Commercial Services helped arrange the sale.
A partnership led by Kaempfer Co. has purchased the new Investment Building at 1501 K St. NW. Blackstone Real Estate Advisors and a group of its partners sold the 380,000-square-foot building for an undisclosed sum

Property Lines is published every other Monday. Chris Baker can be reached at 202/636-3139 or [email protected]


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