Breaking NewsGlobeSt.com will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROCKVILLE, MD-Mobile communications company Telenor Satellite Services, the US arm of Norway’s Telenor Satellite Service AS, has decided to move its headquarters to a 38,000-sf space in the new environmentally friendly and high-technology driven Tower Building at the 200-acre Tower Oaks mixed-use campus. The terms of Telenor’s lease are not available, but space in the $35 million 260,000-sf tower at 1101 Wootton Parkway leases for an annual $32.50 to $34.00-per-sf.

Telenor’s move was prompted out of necessity. Formerly known as Comsat, the firm was purchased by Telenor from Lockheed Martin at the beginning of 2002, and the deal stipulated that Telenor could remain in the Lockheed-owned building on Rock Spring Drive in Bethesda for one year. In selecting the Tower Building for its new headquarters, Telenor took several factors to heart. “The overriding factor is it’s in very close proximity to where we are now, so we don’t disrupt our employee base,” Telenor’s Thomas Surface tells GlobeSt.com. “Also, we needed a location that met our needs for space in which to move comfortably and expand our business. And we wanted a location that mirrored our corporate headquarters in Norway in that it is modern, and technologically and environmentally efficient.”

The company will occupy most of the top two floors of the 10-story building, and plans to move into the space by the end of the year. As for Telenor’s commitment to its new home, Surface says the company signed a “long-term lease because we not only have plans to stay in this region, but we have plans to grow in this region.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.