Government leases are a staple in Piedmont's national portfolio. Various federal agencies account for approximately 1.6 million square feet of leased space in the company's total portfolio. Another large Piedmont holding in the area supported by a government tenant is 9200 Corporate Blvd. in Rockville, MD. The Food & Drug Administration recently renewed its lease there, in Shady Grove V. Piedmont did not return a call to GlobeSt.com in time for publication.
The private sector as well has boosted Piedmont's occupancy rate with large scale leases. The company also owns two adjacent buildings in Rockville that were renewed last year by Lockheed Martin for five years, for a total of 230,000 square feet. One building, Lockheed Martin I, is located at 9211 Corporate Blvd. and is 115,282 square feet. Lockheed Martin II is 115,315 square feet and located at 9221 Corporate Blvd.
Other large scale Defense Department leases in the area include 400 Army Navy Dr., owned by Lerner Enterprises. Last year the agency renewed 235,983 square feet in the class B office building. The DOD also recently added 113,000 square feet to a 145,248-square-foot lease it already had with Carr Properties in a seven-story office building located at 5611 Columbia Pike, in Falls Church, VA.
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