Fifield Inks 20,676 SF in Greened Office

HERNDON, VA-KTA Group, a locally-based engineering design and consulting firm, has inked a 20,676-square foot-lease at Dulles View– an office building owned by the Chicago-based developer Fifield Cos. KTA will be using the space for its headquarters.

Located at 2553 Dulles View Dr., Dulles View is an eight-story, class A office complex consisting of two buildings, totaling approximately 355,000 square feet. KTA is the third tenant to sign a lease in the complex, bringing it to 35% occupancy.

KTA will be moving into a newly-greened LEED-certified building. Fifield and its majority equity partner, CB Richard Ellis Strategic Partners, decided as the building was nearing completion this year to upgrade it to LEED standards. The oversaturated Herndon office market was the main driver behind the approximately $1-million upgrade.

“It is not an inexpensive proposition [to bring a building to LEED standards] when it is not originally designed for LEED,” Todd J. Frye, senior director of CBRE Strategic Partners in Los Angeles, tells GlobeSt.com. “We weighed all of the benefits and costs and decided it was worthwhile to go for it.”

This is Fifield’s first commercial venture in the Washington, DC-area. CB Richard Ellis is the marketing and leasing agent for the project, and EE Reed is the general contractor. Strategic Partners is a real estate investment fund manager that has over $30 billion in assets under management.