LOUDOUN, VA—Merritt Properties has secured 40,353-square feet in leases for a building that is under development. The 72,900-square foot flex industrial building is located at 20700 Loudoun County Parkway and the recent leases bring the property to close to 55% occupancy prior to its completion.
The building will be Merritt's fifth development in Virginia and is specifically modeled after Beaumeade Corporate Park, a six-building light and bulk industrial business park, totaling 472,913 square feet on Guilford Drive. Merritt moved forward with the spec development after analyzing the recent surge of data center demand and a lack of Class A light industrial inventory in Loudoun County. Merritt expects the project to deliver in May.
The first three tenants include Fidelity Mechanical Services, Saab Defense and Security USA, LLC and Crown Trophy of Ashburn.
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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.
