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BETHESDA, MD-The US General Services Administration has signed on the dotted line for a 10-year lease renewal for the National Institutes of Health at the 247,100-sf Two Rockledge Centre. NIH occupies the entire 10-story structure, and last made a commitment to the property back in July of 1995.

Under the terms of its agreement with property owner TIAA Realty Inc. the agency will continue to occupy the structure at a rate of $28.75 per sf; the average rate for class A office properties in Bethesda, where the vacancy rate is 9.5%, is $33.44, according to Cushman & Wakefield’s Mid-Year 2005 office report for Metropolitan Washington, DC. Spaulding & Slye Colliers’ Marcy Owens Test and Bernie McCarthy represented TIAA, while Peter Marcin and Kevin Wilson of Capital Creag spoke for GSA.

Two Rockledge Centre carries the address of 6701 Rockledge Dr. and sits off I-270 near the 1.2 million-sf Westfield Shoppingtown Montgomery regional shopping center. The class A facility, which was developed in 1986, serves as home base for NIH’s National Heart, Lung & Blood Institute, the Center for Scientific Review, and the NIH Federal Credit Union. The research concern maintains its headquarters about 10 minutes away from Two Rockledge Center in the building at 9000 Rockville Pike.

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