Stafford Commerce Center was sold to then Columbia Equity Trust in 2007 for $30 million by Garrett Development Corp. BAE also leased space in another property of the current owner, Carr Properties – at Arlington Plaza. CresaPartners did not return a call to GlobeSt.com in time for publication. BAE has maintained space in the building since 2001, using it to support its customer base at the nearby Marine Corps Base Quantico. CresaPartners' Gene Sachs, Paul Ehrenreich, Lauren Hodgin, and Andrew Corno participated in the deal.
BAE has been very active in the area over the past year, realigning its footprint for greater space efficiency. The company just signed a full building lease at Redland Corporate Center in Rockville, MD for 139,000 square feet.
Other consolidation moves included the other Carr Properties lease, which closed in March, in which the company's Electronic Solutions division combined operations in the District, Reston and Falls Church, VA into 62,773 square feet at 2000 N 15th.
The company also inked an 18,000-square-foot lease with Monday Properties' 1101 Wilson Blvd. to accommodate the company's migration from the former headquarters at 1525 Wilson Blvd. BAE Systems also renewed and expanded its space at President's Park Three, an office building owned by Liberty Property Trust in Herndon, VA in order to build a data center.
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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.
