The internet music company had occupied a 31,200-sf space in the 203,700-sf Parkridge Five building. Aside from MM Companies' digs, which have been unoccupied since June 30, the structure is fully leased. The termination agreement provides for the building owner to refund any part of the $2.1 million that is acquired through future leases of the vacated space.
Walker & Company developed the 46-acre business park, which is on the verge of opening its sixth and final structure, in the late 1990s. When the developer first started constructing the campus-style complex, the office real estate market was tight. Now, vacancy rates in the Reston-Herndon technology corridors hover in the 21% range.
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