Located on Rockledge Dr., the two eight-story buildings are connected totaling approximately 407,000 sf. They are currently empty. Asking rates will be in the low $40s per sf, Raymond Owens, executive vice president of Capital Markets for Piedmont, tells GlobeSt.com. "As we lease up these buildings, their long term value will be realized."
Piedmont acquired the buildings with a buy-and-hold mindset. The company wants to increase its footprint here and is positioning itself for the long-term. Another factor in the acquisition is that it allows Piedmont to leverage its operating capabilities in the area.
Jones Lang LaSalle will market leasing opportunities on behalf of Piedmont. Opus East was represented by Eric Berkman and Steven Gichner of Grubb & Ellis.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
