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ELKRIDGE, MD-Tape storage manufacturer Storage Technology Corporation has signed a seven-year lease for 25,000 sf of office space at the Lyndwood Executive Center on Marshalee Drive. The Louisville, CO-based company will house its regional headquarters, formerly located on Tech Road in Silver Spring, MD, in the new three-story building. Space in the two-structure, 172,000-sf business complex leases for an annual rate of approximately $24.00 per-sf.

“We were at the end of our lease in Silver Spring and we needed more space,” Storage Technologoy’s Joan Baumann tells GlobeSt.com. “We’ll move around the end of January.” Located off Route 100 in Howard County within sight of the Timbers at Troy championship golf course, Lyndwood Executive Center is a new development in the Howard County area.

Other recently signed-on tenants include General Physics Corporation and United Healthcare. CB Richard Ellis Inc. represented Storage Technology in the deal, while Trammell Crow Co. stood in for the building owner.

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