CHANTILLY, VA-Lockheed Martin has renewed its 71,507-sf lease at 14550 Avion Pkwy. in Chantilly, VA–a three-story, class A office that the government contractor fully occupies. Lockheed signed an eight-year lease to remain in the space, which is located in the 188-acre business park, Avion Business Park.

The building is owned by Advance Realty Group, which has 1.6 million sf of assets in the DC market. For most of last year its DC portfolio was largely fully leased but the firm is expecting some vacancies to develop this year as a few leases come up for renewal, according to David Fisher, SVP and regional managing director of Advance’sWashington, DC region. Currently it has 72,000-sf of space available in its portfolio: 35,154-sf at 3650 Concorde Pkwy., which is also located in the Avion Business Park, and 36,692-sf at 45240 Business Court at Loudoun Plaza I in Sterling. All together, it expects to have 270,000 sf of space rolling over in its DC area portfolio this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.