Fannie Mae to Lease Monument IV

HERNDON, VA-Fannie Mae has signed a 10-year lease to occupy all of Monument IV at Worldgate here. Monument IV is a nine-story, 229,000-sf building that will be completed by the end of September. Fannie Mae will move in early next year. Spaulding & Slye Colliers and R.M. Powell and Co. represented Fannie Mae, and Millennium Realty Advisors represented the owners.

Monument IV is the third phase of a 790,000-sf complex of four office buildings being developed by Monument Realty. Construction of Monument III, the final 190,000-sf building is expected to begin in 2002. Monument IV was developed in partnership with Apollo Real Estate Advisors and Prudential Real Estate Investors.

District-based Monument Realty owns and or manages more than 3 million sf of office space in the region. Other projects under construction presently are Ballston Point in Arlington and Crescent at Carlyle in Alexandria.