X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SILVER SPRING, MD-Buildings are continuing to spring up at the 250-acre WesTech Business Park now that property developer Grosvenor has broken ground on a 35,000-sf flex/office structure. The facility, to be known as Crestridge, will bring the park’s total square footage of class A offerings up to approximately 510,000 sf. A spokesperson for Grosvenor tells GlobeSt.com that the single-story structure will cost $5 million to develop. Crestridge is on target for completion in early 2004.

“Based on our recent success in fully leasing all available one-story flex space at WesTech, we are breaking ground on a new one-story flex building to meet tenant demand,” Grosvenor senior vice president Andrew Galbraith notes, “and we’re currently in discussions with several potential prospects for this new space.”

In March, GlobeSt.com reported that the park was nearly full, having reached a 95% occupancy level. Tenants in the park–which is capable of being expanded up to an additional 700,000 sf–include Children’s Hospital Center, Kaiser Permanente, wireless communications company Nextel, healthcare information systems solutions provider SoftMed Systems, and the US General Services Administration.

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.