Neustar Signs 92,000-SF Lease

STERLING, VA-Bavar Properties Group has inked a full-building leaseat a property here that has been empty since it delivered in 2007.Neustar signed a lease to occupy the entire 92,000-square-foot,three-story building for a 10-year term. The building, called RidgetopIII, was developed for $18 million and is located at 21575 RidgetopCircle. Robb Johnson of Jones Lang LaSalle represented Neustar; Neil Alt withLincoln Property Company represented BPG in the lease transaction.

Neustar has been a tenant at the company’s neighboring 60,000-square-foot Ridgetop I at Loudon Tech Center for the past five years,occupying 45,000 square feet. The tenant fit-out is expected to becomplete by year-end. According to the company Ridgetop I and RidgetopII are completely leased.

Activity in Sterling is beginning to pick up, Robert Bavar, vicepresident of Bavar Properties Group, tells GlobeSt.com. When Neustarwas considering the building, there was another tenant alsoevaluating it for a potential full-building lease.Bavar says the company’s portfolio, located in Baltimore, NorthernVirginia and parts of Florida, has an occupancy level in the low to mid-90s. He declined to give the building’s asking rate.