COLUMBIA, MD-For defense and government contractors, the magic number is 115,000. Two leases—one a renewal—were inked in the DC area in recent days for that amount, in separate deals. It is a welcome bit of news considering the overall state of paralysis the defense community has assumed, in anticipation of the fiscal cliff.
Corporate Office Properties Trust—a REIT that focuses on this type of tenant--reports it has executed a lease for an unnamed tenant at 7205 Riverwood Rd., plus an adjacent property. Riverwood is part of Rivers Corporate Park. The tenant plans to move in in late 2013 or early 2014.
“The Riverwood lease expands our relationship with an existing Top 20 tenant,” says Roger A. Waesche, Jr., president & CEO of COPT, in a prepared statement. “We're pleased that our property enables us to accommodate this tenant’s larger space requirement and that our development team can meet their budget and timing,” he stated.
For its part, Monday Properties secured a renewal with Raytheon Co., for six full floors at 1100 Wilson Blvd. Raytheon was represented by Robert B. Shue, Jake Katz and Brendan O’Shaughnessy of Jones Lang LaSalle. Monday was represented in-house by John Wharton and Tim Helmig.
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