The average asking rent for class A office space in the Northern Rockville/Shady Grove region is $26 per sf, and the average asking rent for flex properties in Montgomery County is at an average $15.50 per sf, according to Advantis Real Estate Services' Year-End 2003 reports for the office and flex/industrial markets.
The largest leasing deal of the group involves the General Services Administration's renewal on 17,800 sf and expansion of a 10,200-sf space to nearly 12,000 sf of office space at 7519 Standish Pl. Manor Care of America Inc. recommitted to its 11,200-sf home at 7361 Calhoun Place, while Spatial Integrated Systems Inc. expanded its lease to 7,500 sf at 7524 Standish Place. Among the new tenants are Intelligent Automation Inc., which took on about 19,000 sf for its offices at 15400 Calhoun Dr., and Mortgage Advantage, which committed to 1,800 sf of office space at 7529 Standish Pl. Transwestern Commercial Services represented property owner PS Business Parks Inc. in the transactions.
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