WASHINGTON, DC-Two tenants are taking a total of 77,192 square feet at Clarendon Square, a 165,226-square-foot office building located at 3033 Wilson Blvd. that was vacated last August when Arlington County left the space. The new tenants are Hobsons, which has signed a 12-year, 38,581-square-foot lease, and Dynamics Research Corporation, which has signed a seven-year, 38,611-square-foot commitment.
After Arlington County left, the building owner, Phillips Development Corp., embarked on a major renovation, Cassidy Turley’s Marty Almquist tells GlobeSt.com. “They saw it as an opportunity to reposition the building to an A-minus class,” she says. The building also has 16,220 square feet of retail space, some of which is being vacated to make way for retail renovations.
Almquist, along with colleagues Michael Altman, James Hunter, Phillip Thomas Jr. and Scott Killie, handle the leasing for the owner. Steve Schaumberg, Russell Canard and Aaron Berkey of CRESA Partners represented Hobsons. Brad Davis of CB Richard Ellis, Virginia and Neil Schneider of McCall & Almy in Boston represented Dynamics Research.
The renovations included a new main lobby, four elevators, restrooms and common areas, in addition to extensive HVAC upgrades. There is 71,814 square feet of office space available for lease. “We have some prospects and tours in the works,” Almquist says, “although nothing immediate.”
The hope is to lease the remaining space to full floor tenants. Asking rates for the top two floors are $42 per square foot, full service. The lower floors, because there are some timing issues involved, are going for approximately $40 per square foot.