- The Washington Times - Wednesday, May 23, 2007

Buchanan Partners’ completion of Dulles Trade Center 1 and work on a nearby retail center show how much the company is betting its fortunes on growth in the Dulles Corridor.

The company said this week that it has completed and nearly sold out its 750,000-square-foot Dulles Trade Center 1 commercial condominiums on Route 606 west of Washington Dulles International Airport.

The 57-acre complex is dominated by warehouses of small contractors that serve the local community, which Buchanan Partners interprets as growth of the area around Dulles Airport as an urban center separate from Washington.

“Certainly Loudoun County and the Route 28 Corridor, they would be serving that area,” said Kathryn Devine, Buchanan Partners’ vice president of sales and leasing.

Purchasers of the units, which average about 3,000 square feet each, include plumbers, electrical supply companies, roofers and a caterer. Office space on the complex is taken up by real estate companies, investment houses and others. The project was started in 2001.

Unlike large corporations that often lease space so they can move out quickly if markets change, companies at Dulles Trade Center 1 bought their space. They could be sending a signal of permanent commitment to the community, Mrs. Devine said.

Most of them are “following the rooftops,” she said, referring to their effort to open businesses where housing and population growth are greatest.

“A lot of small-business owners really feel like they can control their own destiny by owning,” she said.

Gaithersburg-based Buchanan Partners is making a similar commitment to the Dulles Corridor, where more than half of its development projects are centered.

“We’ve been there a long time,” Mrs. Devine said. “We’ve seen it grow and been successful there.”

Just down the road from Dulles Trade Center 1, the company recently completed a 100,000-square-foot retail center to serve businesses, homeowners and travelers along Route 606, the main commercial corridor west of Dulles Airport. Tenants include fast-food restaurants, an Exxon service station, Cingular Wireless, Allure Salon and Spa, a barbershop, dry cleaners, fitness center and an Asian market.

Buchanan Partners also developed Dulles Trade Center 2, a 100-acre site on Route 50, next to the Dulles 606 Retail Center. The for-sale lots sold out in 2005, and purchasers have built commercial facilities on about half of them.

Next on the company’s agenda is the first phase of its 400-acre mixed-use Arcola Center at the juncture of Route 50, Route 606, and Loudoun County Parkway. Construction is scheduled to begin this year. North of Arcola, the company is developing the 105-acre Dulles Trade Center West complex of for-sale commercial lots.

Property Lines runs on Thursdays. Call Tom Ramstack at 202/636-3180 or e-mail tram [email protected] washingtontimes.com.

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