RESTON, VA-AllWorld Language Consultants has inked a 41,481-square foot lease here. The deal brings the 104,952-square-foot property, Commerce Executive Center III, at 1850 Centennial Park Dr., to full occupancy. Of greater significance to the region and submarket: it represents positive net absorption.
"It is pure growth," Tom Cresce with Cassidy Turley, tells GlobeSt.com. Cresce, along with colleague David Scully, represented the owner, Vornado/Charles E. Smith, in the transaction. Cy Kouhestani, Peter Berk and David Millard of Cushman & Wakefield represented ALC. According to Cresce, ALC has won several government contracts in recent months and needed to expand.
That is a common story line for the DC area, of course; sadly, though, not so much for Reston lately. The submarket has sustained some blows with large tenants moving out, oftentimes to other submarkets. National Geospatial Intelligence Agency, for instance, is moving operations to Ft. Belvoir and likely will be taking several government contractors, who wish to stay close to the agency, with it.
Commerce Executive Center III is located within a three-building office park, right off the Dulles Toll Road at the intersection of Sunrise Valley Dr. and Wiehle Ave., where the future home of the Wiehle Avenue Metro Station/Silver line will be. Commerce Executive Park will have direct access to the planned stop.
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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.
