Rrenewals have become the life blood of every asset class in theDC area, from office to industrial and retail. Still, though, thislease--along with others--suggest that pockets of industrialmarkets are maintaining a strong hold on their tenants. Landover isone area for various reasons, starting with its proximity to the DCmarket. For example, the building in which Verizon hasrenewed--called Washington Commerce Center--is located at theintersection of Landover Road (Route 202) and Martin Luther KingJr. Boulevard (Route 704)--less than 15 miles from Reagan NationalAirport, and less than 25 miles from BWI Airport. Another factor inLandover's favor, Watts says, is that "pricing is considerablycheaper here compared to Montgomery County and NorthernVirginia."
Other recent transactions here include the National Gallery ofArt's renewalfor 83,608 square feet at 2000 South Club Dr. and theDepartment of Defense's 60,389 square foot renewal at 6340 ColumbiaPark Rd.
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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.
