ROSSLYN, VA-Skanska's bet on the Rosslyn market is--not surprisingly--rapidly paying off. 1776 Wilson Blvd. delivered in November 2012 and has gone on to ink a number of leases. The latest is LM&O Advertising, which is taking 21,000 square feet in a ten-year deal. The company is moving its headquarters to the building in December, from 2000 14th St., N, in Arlington.
Skanska acquired the site in May 2010, and self-financed the development costs for the five-story, 134,750-square foot of office and retail building. Skanska recently signed on Pier 1 and 100 Montaditos for the building. At that point, there was 11,750 square feet of retail and 27,660 square feet of office space available; the LM&O lease just about takes care of the available office space.
Avison Young represented LM&O in the lease negotiation. LM&O has hired architecture firm Davis Carter Scott of McLean, Va., to design the office space.
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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.
