Cernium expanded its space by about 11,000 square feet, Stouffer tells GlobeSt.com. For the past several months, renewals were just about the only form of lease activity in the DC area market. That is still true, of course, however brokers are reporting a thaw of sorts, with renewals being inked along with expanded space. Cernium's lease is a case in point, Stouffer says. This is the most active period in the market since the trough began in 2008, with deal velocity and activity picking up.
One caveat Stouffer says: it is only the quality buildings in well-located areas that are seeing an increase in traffic. This building qualifies: it is located near several amenities such as high end retail shops and restaurants at Reston Town Center and has immediate access to the Dulles Toll Road.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
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.
