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ROCKVILLE, MD-The 176,000-sf office structure at 1801 Rockville Pike will continue to serve as the local home base for Clear Channel Communications now that the company has extended the lease on its offices in the building.

“Clear Channel extended its lease to 2013, five years beyond the original expiration date of 2008,” Robert C. Dickman of McShea & Co. Inc., the firm that represented property owner TA Realty, tells GlobeSt.com. Additionally, the San Antonio, TX-based company took on an extra 4,000 sf, bringing its total occupancy at 1801 Rockville up to approximately 46,000 sf.

“Its lease will enhance productivity and facilitate growth,” notes Advantis/GVA’s Bruce McNair who represented the tenant in the transaction along with colleague Bill Morris. Specific financial terms of the lease have not been disclosed; however, McShea markets space in the class A building for $28 to $29.50 per sf.

Located between the Woodmont Country Club and Rock Creek Stream Valley Park off Interstate 270 and the Capital Beltway, 1801 Rockville is a six-story structure that was developed in 1985. TA Realty acquired the building last year in a $37.2-million transaction with seller Rockville Office Inc. In addition to Clear Channel, the office property is also home to US Pharmacopeia and agriculture and utilities company PG&E Generating. Clear Channel’s expansion, Dickman adds, leaves the building with an occupancy level of approximately 96%.

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