Clear Channel's increase in space marks its second expansion in the building in less than two months. It was just back in late November that the company extended its lease on 42,000 sf from the year 2008 to 2013, and added on 4,000 sf for a total of 46,000 sf at the time.
Financial terms of neither the previous nor the current transaction have been disclosed. However, Bob Dickman of McShea & Co. Inc., the firm that represented building owner TA Realty in the transaction, had been marketing space at 1801 Rockville for $28 to $29.50 per sf. Advantis/GVA's Bruce McNair and Bill Morris stood in for the tenant.
A six-story structure developed twenty years ago, 1801 Rockville features an easily accessible location off I-270 and the Capital Beltway. For Clear Channel, the extra space offers a certain amount of freedom and continuity.
"Clear Channel will now consolidate its AM station operations with their FM group," McNair explains. "They will also expand their conference and entertainment center to accommodate visiting recording artists." Other tenants at 1801 Rockville include US Pharmacopeia and agriculture and utilities company PG&E Generating.
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