GlobeSt.com EXCLUSIVE: Transportation Department Renews 122,300 SF

CHANTILLY, VA-The 166,000-sf office building at 14685 Avion Parkway in the 188-acre Avion Business Park will hold on to its largest tenant, the Northern Virginia District headquarters of the Virginia Department of Transportation, now that the agency has renewed is lease on 122,300 sf of office space.

Specific terms of VDOT’s lease renewal agreement with property owner Advance Realty Group have not been disclosed; however, class A office space in the Chantilly area goes for $24.41 per sf, according to Cushman & Wakefield’s MarketBeat Mid-Year 2005 office report. Brad Davis of CB Richard Ellis represented the tenant, while Advance Realty’s David Fisher stood in for the owner.

Also known as Lakeside I, the building at 14685 Avion was developed five years ago. The four-story structure is one of 19 office facilities that comprise the 1.3-million-sf corporate park, which is located in the Route 28 South submarket and within close proximity to Washington Dulles International Airport. VDOT has called 14685 Avion home since the building’s completion in 2000. Nonprofit research and development organization Syracuse Research Corp. occupies 21,400 sf at 14685 Avion and has also been a tenant for the last five years.