LANHAM, MD- Jackson-Shaw will begin development on AndrewsFederal Campus, now that it has gotten an equity infusion fromPhoenix Capital Partners and has secured its first occupant. Thelatter is the federal government, which last week purchased 12acres at the campus; an 80-acre business park located five milesfrom Washington, DC at the intersection of Suitland Parkway and theCapital Beltway here.

The building, once developed, will house a function of theArchitect of the Capitol, Tom Aylward, vice president ofdevelopment with Jackson-Shaw, tells GlobeSt.com. Beyond that, theagency’s plans for the land are not clear--it still must go throughthe normal channels for requesting funds for the development and soon, says Aylward. “I can tell you that according to zoningregulations for the park, 12 acres will support a building in theneighborhood of 120,000 square feet.

The park itself, at full build out, will support up to onemillion square feet of development for a total of $100 million.Jackson-Shaw is beginning the initial construction work with a $15million capitalization. It will clear and grade the site and addroads, utilities and a new access point at ForestvilleRoad.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.