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SILVER SPRING, MD-Forsaking Washington, DC for Suburban Maryland, WorldSpace Inc. has made plans for relocation to the 182,000-sf office building at 8515 Georgia Ave. in Montgomery County. The digital audio and multimedia services provider will move into a 52,000-sf space at the year-old office property in the fall.

The nine-story structure, which is also home to the likes of Union Labor Life Co., American Nurses Association, APS Health Care and Social and Scientific Systems, includes a 33,000-sf ground-level retail segment and is accessible to major thoroughfares I-270 and I-495.

Cresa Partners’ Rich Rhodes and Jon Olmstead represented WorldSpace, while CB Richard Ellis’s Andrew Masters and Scott Randolph spoke for property owner 8515 Georgia Avenue Associates LLC, a partnership involving Foulger-Pratt Development, Argo Investment Co. and the Peterson Cos. Financial terms of WorldSpace’s lease have not been revealed; however, according to Black’s Guide, CBRE markets space in the building for about $32 per sf. “In the last 24 months, the momentum of tenants relocating to Silver Spring from DC and from other parts of Montgomery County has built steadily, in large measure due to the ‘Downtown Silver Spring’ redevelopment coupled with convenient access by MARC train and Metro to Capital Hill and Downtown DC and competitive rental rates,” Masters notes.

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