|
|  |
|
|
Maryland
Market Highlights
The Suburban Maryland office market consists of three counties including Frederick, Montgomery and Prince George's county. Within Montgomery County there are thirteen submarkets.
Contacts – Bernie McCarthy, Vice President and Morgan Sullivan, Vice President
Bethesda-CBD – The QRC Division of Marco International renewed their 16,000 square foot lease at 7315 Wisconsin Avenue. The building, also known as the Air Rights Center, is owned by TIAA-CREF and is over 87.5% percent leased.
Silver Spring – Sentori Inc. signed two five-year leases, including space in a new Class A building in Silver Spring, MD, and in nearby Reston, VA. The company moved into a 10,593 square-foot office at 12211 Plum Orchard Drive in Silver Spring and into an existing building at 11400 Commerce Park Drive in Reston for an additional 4,539 square feet of office space. Previously, the company was located at 14401 Sweitzer Lane in Laurel, MD. Sentori provides multi-service billing, customer care, and network mediation software solutions to the global communications services industry.
I-270 Rockville – Discovery Logic and PlanMatics signed leases for 7,000 and 10,000 square feet respectively at the 113,000 square foot building at 1375 Piccard Drive. The building, owned by Realty Capital partners and The Halle Companies, is now 91% leased.
I-270 Rockville – TPN Register subleased its remaining 25,000 square feet at 702 King Farm Boulevard to Aronson, Feteridge, & Weigel. This will put the accounting and consulting firm on the fifth floor of the 164,000 square foot building. Coupled with the firm’s 75,000 square feet at 700 King Farm Boulevard, Aronson, Feteridge, & Weigel now occupy 100,000 square feet in the area.
Rockville Pike – An 89,000-square-foot ice rink, located off East Gude Drive at 50 Southlawn Court traded through bankruptcy to Rockville Blades, LLC who plans on investing one million dollars in the facility. The owner of Rockville Blades, LLC, Allen Kronstadt, also owns property on either side of the rink. To the north is the 63,000-square-foot Rockville SportsPlex, an indoor soccer and basketball complex. To the south Kronstadt plans on building a swimming and gymnastics complex.
Rockville Pike – Groundbreaking yesterday kicked off construction of Rockville Town Square, a public-private endeavor that will yield a multi-faceted commercial hub in the heart of the city. The City of Rockville, RD Rockville LLC and Federal Realty Investment Trust, developers of Bethesda Row in Bethesda, have joined forces to realize the $350 million project. Other developments have begun or are in the works to fill out the remaining acreage of the greater Rockville Town Center, including Folger-Pratt's 170,000-square-foot Rockville Metro Plaza project, which will be supplemented by two additional structures.
Prince George’s County – Greenhorne & O'Mara Inc. leased 64,900 square feet of build-to-suit office space on Frost Place in Laurel, MD in the Konterra at Sweitzer Lane development. The company will be moving from 9001 Edmonston Road in Greenbelt, MD. Greenhorne & O’Mara signed a 12-year lease with the building owner, 1325 G Street Associates and is expected to take occupancy in December 2005, when its current lease expires.
[PRINTER FRIENDLY VERSION]
|
|
|
