RESTON, VA-A US Customs and Border Protection unit is renewing 30,139 square feet for five years at Sunrise Technology Park, in a building located at 12379 Sunrise Valley Drive. Brookfield Office Properties owns the building. It was represented by Colliers International Government Solutions in the renewal transaction.
The unit, NTC-P, screens inbound and outbound airline passengers and shipping cargo for terrorist threats. It is, in short, part of the US government's security apparatus that is unlikely to suffer severe cutbacks in Congress. The Sunrise Technology Park building, located in the heart of Dulles Corridor–a fast-growing hub for the security and tech industry – is ideally located for the NTC-P mission.
The renewal is also very welcome from a submarket perspective. Reston has been laboring since the downturn, with some parts faring better than others. Reston Town Center, for example, has weathered the downturn very well with low vacancy rates. The rest of Reston, meanwhile, has asking rates at half the level of Reston and very high vacancy rates.
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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.
