ROSSLYN, VA-With the bulk of its DC-area portfolio based in one of the few submarkets experiencing growth, Monday Properties is well positioned to start thinking about development. "With no new supply coming online [in Rosslyn] the fundamentals are very healthy and the market is setting itself up to support development in the near future," executive vice president Tim Helmig tells GlobeSt.com. In April, Helmig told GlobeSt.com the company was going to make a decision about when to break ground on its LEED Platinum-designed office at 1812 N. Moore St. in the coming months. That timeline still holds, he tells GlobeSt.com now, with a decision expected before the end of the year.

Other development activity would include rezoning a property the firm already owns for trophy quality development. Though he declined to name the specific building, Helmig said it was over one million square feet. That project, however, is in the beginning stages--namely Monday still needs to go through the entitlement process, which can take up to three years. The firm will likely embark on that at the beginning of 2011.

Meanwhile, the company’s leasing portfolio is still strong, hovering close to full occupancy. A case in point is 1515 Wilson Blvd. AMTI, a subsidiary of Tetra Tech, just expanded its office space there from 41,000 square feet to occupy a total of 52,000 square feet. To accommodate them Monday Properties relocated its long-term tenant, Laurel Consulting Group to 9,506 square feet on the ninth floor at 1400 Key Boulevard. 1515 Wilson, a 12-story office building offering 127,000 square feet of commercial space, is now fully occupied. Helmig says rental rates for its trophy buildings are $60 per square foot. Others average about $40 per square foot.