Prior to Brandywine's acquisition of Prentiss Properties earlierthis year, development of the office building had been in the worksunder Prentiss Properties back in 2000, pending a major leaseagreement. The development was tabled due to a softening of themarket in the area at the time. The vacancy rate in theReston/Herndon submarket is currently 9.9%, according to GVAAdvantis' First Quarter 2006 Washington, DC Metropolitan AreaMarket Review.

With an address of 13820 Sunrise Valley Dr., South Lake will belocated not far from Washington Dulles International Airport. Thearchitectural firm of Noritake Associates is on board as thedesigner of the 10-story class A building, which will behighlighted by an adjacent four-level parking facility.

"We continue to see strong demand for office space within ourcore Northern Virginia portfolio with vacancies in the singledigits," says Bob Wiberg, Brandywine executive vice president andmanaging director of operations. "South Lake at Dulles Corner willfill a market void." CB Richard Ellis is assisting Brandywine withleasing responsibilities. South Lake is scheduled to deliver in thethird quarter of next year.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.