"The top three floors are already leased," Jeffrey K. Diamond,principal of Diamond Property Co., he tells GlobeSt.com, "andleases are pending for the first two-and-a-half floors, leavingpart of the third floor, and all of four, five and six available."A financial services firm also has preleased space in the buildingin a plan to fill the first two floors. The latest count shows theclass A product is 60% preleased.The project's leasing agent saysspace is renting for $42 per sf to $45 per sf. Construction isexpected to begin this summer. The 2000 Tower Oaks Boulevard is aLEED-certified building, designed with heightened efficiencies forair quality, recyclable content, energy and water usage.
Diamond says he is involved with two other LEED-certifiedbuildings in the Washington, DC area, both of which are beingdeveloped by Lerner Enterprises: 20 M Street SE and 1775 TysonsBlvd. in McLean, VA. "There is growing demand for this kind ofspace," he says. "I think it will be the wave of future developmentfor office buildings."
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
*May exclude premium content
Already have an account?
Sign In Now
© 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.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
