SPRINGFIELD, VA-ING Clarion Partners has arranged a$16.1-million construction loan for Metro Park VII, an officebuilding at 6348 Walker Ln. that is already fully preleased.Cassidy Turley’s John Campanella and David Webb secured thefinancing.

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Metro Park VII is a 90,000-square-foot office building locatedwithin the 37-acre Metro Park in Springfield. It is 100% preleasedto VSE Corp. and designed to achieve LEED Gold registration. ING isbreaking ground this summer and delivering it in the spring of2011.

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The construction financing, however--a rare event in thismarket--is not necessarily an indication that it is returning.Rather, the project is being driven by the 2005 Base Realignmentand Closure act. Indeed, last month Corporate Office PropertiesTrust announced it wasembarking on a development project that couldeventually yield 800,000 square feet to 980,000 square feet ofoffice space in the Springfield submarket--all geared to meetingdemand created by BRAC. Construction on the proposed240,000-square-foot first building, called Patriot Ridge, will bein Q4 of this year.

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Springfield is home to the National Geospatial IntelligenceAgency headquarters, which is currently under construction. ADepartment of Defense combat support agency, NGA will occupy a2.4-million-square-foot facility that will be located at FortBelvoir. Fort Belvoir, of course, is the biggest beneficiary ofBRAC in the country. Projects underway at the fort number at least20 and comprise nearly 6.2 million square feet.

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