GLEN ALLEN, VA-SunTrust Bank has leased 83,414 square feet at a five-story, 204,622-square-foot office building here. WestMark Two is located in the middle of the Innsbrook submarket and is owned by a partnership between New Boston Fund and RER Equities, which purchased the property in August of 2004. Jeff Cooke at Thalhimer brokered the deal on behalf of the JV.
Thalhimer’s N. Dean Meyer represented SunTrust. New Boston did not provide information about the leasing rates.
New Boston has been steadily active in the DC area, leasing up its portfolio and in the case of NoMA, acquiring assets. In April, the company purchased a 67,000-square foot stake in J Street Properties’ 111 K St., NE building. Some of the property had been sold as office condos by J Street; New Boston acquired the remainder of the building with plans to lease it as office space.
It also sold a multifamily asset in Laurel, MD at the end of 2011 to Federal Capital Partners. Montpelier Crossing, located at 9689 Muikirk Rd., traded hands for $33.6 million.
Most of New Boston’s recent activity, however, has been more prosaic, focusing on leasing up its assets. In Sterling, VA, it signed on Bohler Engineering as a tenant for its two-building, 149,763-square-foot office/flex asset known as TransDulles Centre. The firm took 18,333 square feet there.
In April, it inked a lease with Premier Home Mortgage at Stevens Forest Green in Columbia, MD. The 2,491-square-foot lease brought the 84,300-square-foot building to 86% occupancy.
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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.
