The deal is expected to close in Q2 2008. The buyer was notdisclosed. Vornado did not return calls in time for deadline.


The trade works out to roughly $317 per sf, which is in linewith the few class A offices that have traded in this very densesubmarket. "There haven't been a lot of sales here to compare itagainst," Tonya Ginter, director of Research & Marketing forGVA Advantis, tells She points to a sale in Feb. 2007as a close comp: 2216 and 2222 Gallows Rd., a 106,961-sf packagethat sold for $305.72 per sf. "Despite the fact that the economyisn't doing so well, this shows that prices haven't dropped by thatmuch, at least in this submarket."


New--and long awaited--development in the submarket is expandingsupply. MRP Realty has told that it is planning a500,000-sfoffice for roughly $250 million. Lerner Enterprises is building an18-story 472,000-sf officetower at 1775 Tysons Blvd. in the Corporate Office Centre at TysonsII and B.F. Saul Co. is building an 11-story, 312,897-sf buildingat 7930 Jones Branch Dr.


Tysons Dulles Plaza I, located 1420 Spring Hill Rd., is a155,100-sf building. Tysons Dulles Plaza II, a 159,000-sf building,is at 1430 Spring Hill Rd. The third building, Tysons Dulles PlazaIII, is a 159,000-sf office at 1410 Spring Hill Rd.

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