First Potomac Realty Buys Reston, VA Office Building

Normandy Real Estate Partners, the Morristown, New Jersey-based real estate investment and management firm, has sold 1775 Wiehle Avenue in Reston, Virginia to Bethesda-based First Potomac Realty Trust for $41 million. Terms of the deal were not disclosed, though it is known that Paul Collins, Bill Collins, James Cassidy, Drew Flood, and Jud Ryan of Cassidy Turley represented the seller in the transaction.

The five-story, 125,444-square-foot office building was built in 2001 and provides immediate access to the Reston Town Center, which offers 40 retail stores, a wide variety of eating establishments, multi-family residential, and a 517-room Hyatt Regency Hotel. 1775 Wiehle offers tenants 25,000 square foot floorplates with high ceilings, 30' x 30' column spacing, 15% multi-tenant core factor, 9' finished ceilings and virtually column-free workspace. The building is 100% leased with Odin, Feldman & Pittleman, P.C. as the largest tenant.

For more news and information visit Blumberg Capital Partners.

GSA Signs 523,500 SF DIA Lease in Metro DC

Cassidy Turley announced that the U.S. General Services Administration (GSA) has awarded a 523,482 square foot lease for the Defense Intelligence Agency (DIA) to occupy Patriots Park in Reston, Virginia just outside of DC. Situated in two towers located at 12310 Sunrise Valley Drive, a brief drive out Interstate 66 from DC proper, DIA will enter into a 20-year lease at the property located near the Reston Town Center. The complex is currently undergoing a redevelopment by Boston Properties to meet the Department of Defense’s anti-terrorism/force protections standards. The pricing of the deal was not disclosed.

"Patriots Park is the logical choice for the DIA’s new facility," said Darian LeBlanc, senior managing director of government services for Cassidy Turley, which represented the GSA in the deal. "This selection allows them to consolidate multiple locations into a highly secure campus environment, central to all of Reston’s fantastic amenities and Metro’s Silver Line." DIA is headquartered at the Pentagon in Washington, D.C., with major operational activities at the Defense Intelligence Analysis Center (DIAC), Washington, D.C., the National Center for Medical Intelligence (NCMI), Frederick, Maryland, and the Missile and Space Intelligence Center (MSIC), Huntsville, Alabama.

For more news and information visit Blumberg Capital Partners.