ROSSLYN, VA-A rare hole has opened up in Monday Properties’ local portfolio, which usually can count on an occupancy rate in the very high 90s. It has, or will have, five full-floors available in its trophy towers on Wilson Boulevard, Tim Helmig, EVP and chief development officer of the company, tells GlobeSt.com. “The last time we had this much space available at once was when USA Today/Gannett left in 2001,” he says. “It took us only six months to fill it.”

Helmig expects the space, which the company has only just begun marketing, to move as quickly this time around. For starters, he anticipates the towers to be LEED Gold certified by Spring of 2012. In general, he adds, it is a rare opening for the Rosslyn market. “You hardly ever see space with this kind of unencumbered view coming to market,” Helmig says. The available space is being created in part by the departure of Monday Properties’ long-standing tenant Northrop Grumman as it moves into its own building, and in part by the natural attrition all portfolios experience.

There will be four full floors available on 1000 Wilson Blvd., and one full floor available at 1100 Wilson Blvd. Asking rates for the floors at 1000 Wilson Blvd., which are high in the tower, are in the low $60s per square foot, a Monday Properties spokesman says. Asking rates for the floor on 1100 Wilson Blvd. will be in the mid $50s per square foot.

Monday Properties has little to worry about: Rosslyn is as close as the DC area gets to a fully-occupied submarket. The company has just renewed three tenants in the Wilson Towers, GlobeSt.com has learned exclusively, for a total of more than 27,000 square feet.

Paltech has signed a renewal for 18,000 square feet at both 1000 and 1100 Wilson Blvd. Tom Birnbach, managing principal of Cresa Partners, represented Paltech in the lease negotiations. The American Psychiatric Association renewed, as well as extended by 5,000 square feet, its 58,000 square feet at 1000 Wilson Blvd. CBRE’s Mark Teitelbaum and Tony Bolino represented American Psychiatric Association. And Gulfstream Aerospace renewed its 4,200 square foot lease at 1000 Wilson Blvd. Monday Properties’ John Wharton and Scott Egarian represented the firm in all three transactions.

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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.