DULLES, VA-Making an effort to give its behemoth staff some elbow room, America Online has signed lease agreements for two separate spaces at the 38-acre, five-structure Loudoun Gateway Corporate Center. The world renowned Internet service provider committed to the entire four-story, 102,000-sf Loudoun Gateway IV building under a seven-year agreement; and it also took on 52,000 sf of space at Loudoun Gateway II, also four stories and 102,000 sf in size, for a one-year term.

Located off the Dulles Toll Rd. near the Washington Dulles International Airport, Loudoun Gateway business park offers AOL the added convenience of being just a few miles away from the company’s main headquarters. CB Richard Ellis represented the tenant in the transaction, while Grubb & Ellis stood in for property owner the Alter Group.

Financial terms of the deals have not been released, but according to Black’s Guide, Grubb & Ellis markets space at Gateway IV for about $23.50 per sf. Both leases allow the company to take on additional space, if needed, and the Gateway IV lease gives AOL the option to extend or terminate the agreement after a five-year period. The relocation of a cluster of AOL employees to the new spaces at the Loudoun Gateway campus will wrap up by year’s end.

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