Located off the Dulles Toll Rd. near the Washington DullesInternational Airport, Loudoun Gateway business park offers AOL theadded convenience of being just a few miles away from the company'smain headquarters. CB Richard Ellis represented the tenant in thetransaction, while Grubb & Ellis stood in for property ownerthe Alter Group.
Financial terms of the deals have not been released, butaccording to Black's Guide, Grubb & Ellis markets space atGateway IV for about $23.50 per sf. Both leases allow the companyto take on additional space, if needed, and the Gateway IV leasegives AOL the option to extend or terminate the agreement after afive-year period. The relocation of a cluster of AOL employees tothe new spaces at the Loudoun Gateway campus will wrap up by year'send.
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