436,740 SF of Office Leases Close

In Arlington, VA, the County Board has signed a 144,740 square feet lease with Foulger-Pratt to occupy its entire building at 2100 Washington Blvd called the Sequoia Plaza. The County's Department of Human Services is moving from its current location at 3033 Wilson Blvd. Studley's Mark Roberts represented the County. Foulger-Pratt was represented by Cushman & Wakefield.

According to Studley it negotiated $22.1 million in total occupancy-cost savings over a comparable 10-year period with the new relocation lease. The lease includes expansion options for up to 370,000 square feet and an option to purchase the building under attractive terms and conditions.

In Reston, VA, QinetiQ signed a 11-year, 121,000 square foot lease at Reston EastPointe, a 196,000 square foot office building located at 11091 Sunset Hills Road, which is owned by Vardell Realty Investments. QinetiQ was represented by Robb Johnson and Dee MacDonald-Miller of Jones Lang LaSalle. Vardell Realty Investments LLC was represented by Mike Shuler, Rob Walters and Nate Krill of Millennium Realty Advisors LLC.

Finally, Deloitte signed a 12-year sublease with the Corporate Executive Board in Rosslyn, VA for 171,591 square feet. According to an SEC filing, this sublease will save CEB $4 million for the six months ended December 31, 2009 in rent expenses, and approximately $9 million in 2010.

Two 100,000-square-foot-plus renewals topped off the week. The Food & Drug Administration renewed its lease of 104,474 square feet at 1350 Piccard Dr., Rockville, MD, for five years, leaving it fully leased. Eugene Smith and Merrill Turnbull with Lincoln Property Co. represented the landlord, Grosvenor Investment Management, while the GSA represented the FDA.

In Baltimore, Head USA, Inc. renewed 106,366 square feet at 1041 Swan Creek Drive, an industrial building owned by ASB Real Estate Investments. In that deal Brian Watts, Tom Gentner, Mark Glagola and Michael Phipps represented the landlord. Gregory Friedman with AGM Commercial Real Estate, represented the tenant.

Baltimore, of course, is not considered part of the greater DC area – but the city has been seeing an uptick in activity as well, Gentner tells GlobeSt.com. Speaking of the industrial sector, he says: "We have been seeing a lot more prospects looking around the marketplace. Most of the activity we have seen since the summer of 08 has largely been tenants shopping renewals. But over the past 60 days I am actually seeing real deals by tenants either looking to relocate or that have new requirements coming into the market."