Transwestern Completes 102,691 SF Flex Lease at Northwoods

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Jun 24, 2010, 05:46 ET

VIENNA, Va., June 24 /PRNewswire/ -- Transwestern today announced that it recently negotiated a 102,691 SF industrial/flex lease with Raytheon Company at 23010 and 23011 Ladbrook Drive, Dulles, VA. The two buildings are located within the 340-acre Northwoods flex/industrial park, a development of Northwestern Mutual, Broad Street Equities and The Ardent Company.

Raytheon will occupy the entire 70,173 square feet of building two and take a portion of building twenty, which totals 32,518 square feet. Transwestern agents, Caulley Deringer and Stephen Beggs, represented the joint venture, Broad Street Equities and The Ardent Company, in partnership with Northwestern Mutual, in this transaction. Raytheon was represented by Bob Shue and Steve Burman of Jones Lang LaSalle.

Northwoods is a 340-acre, 1.9 million square feet master-planned business park located in Dulles, VA. Designed to accommodate 32 industrial and flex buildings, the project is strategically located minutes from the north freight entrance to Dulles International Airport and offers easy access to Dulles Toll Road and Routes 28, 50, 66 and 7. Northwoods offers build-to-suit capabilities, including outside storage, in a heavily landscaped site. Each building offers extensive window lines, 40' x 40' column spacing, 24' ceilings, multiple docks and drive-ins and 120' - 180' truck court depths.

With the completion of the Raytheon lease, Phase 1 of Northwoods, consisting of 364,829 square feet, is now two-thirds leased. Other recently completed leases at Northwoods include Niitek which leased 43,803 square feet and Kuehne & Nagel, Inc., which leased 30,253 square feet in October 2009. Ward North America, leased 64,539 square feet in May 2010 at 22300 Ladbrook Drive.

About the Transwestern

Transwestern, one of the largest privately held commercial real estate and development firms in the U.S., is focused on creating value for our clients in each local market we serve. Transwestern's unique business model offers fully integrated real estate services and operates through six distinct functional lines of business: agency leasing, property and facility management, investment services, tenant advisory, development and research for a broad range of property types, including office, industrial, retail, healthcare and multifamily. Transwestern leads the industry in sustainability and has received multiple EPA ENERGY STAR® awards.

SOURCE Transwestern