LOUDOUN, VA-The Alter Group has inked a 27,501-square foot lease at Loudoun Gateway IV, a five-story, 128,000-square foot corporate office building at Loudoun Gateway Corporate Center in the Dulles submarket. The tenant is ORBCOMM, a global satellite provider headquartered in Rochelle Park, New Jersey and houses its network control center in Dulles.
Tom McHugh and A.J. Wood of Cushman & Wakefield, represented ORBCOMM in the transaction. Andrew D. Klaff, Warren H. Amason, and Chad E. Arnold of Colliers International, represented The Alter Group.
Matthew A. Ward, SVP of The Alter Group notes that the Northern Virginia market is clearly in recovery "with rents rising 5% between the first and second quarters and little in the way of new construction before 2014." He says the local office market should do well, especially with 35 growth forecasted for the larger DC area.
Loudoun Gateway Corporate Center is a 38.6-acre park is within Loudoun Gateway Business Park. It is near Washington Dulles International Airport. Loudoun Gateway V is the last of five buildings that The Alter Group developed at Loudoun Gateway.
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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.
