Robert Anderson and Robert Copito of Jones Lang LaSalle represented Lafarge North America. Daniel Purrington represented Brookfield Properties in-house, along with David Millard, Peter Berk and John Henschel of Cushman and Wakefield.
One Reston Crescent, which delivered in 2000, is fully leased to Sprint Nextel. Asking rates for Two Reston Crescent are in the low 30s per square foot. The deal comes as this Northern Virginia submarket is working through some of the highest vacancy rates in recent history.
Rising vacancy rates, of course, are not limited to outer lying suburbs. Emerging submarkets in the District have also been adversely impacted. Another Brookfield Property that has been largely empty since it delivered is 77 K in NoMa.
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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.
