Docstoc

development_pipeline

Document Sample
development_pipeline Powered By Docstoc
					                                 /pulse/
                                 Metro DC development pipeline - 3rd quarter 2008

       DC            Total sf              Preleased sf                Preleased %
     2008            1,050,542              339,966                      32.36%
     2009            5,793,702             1,141,696                     19.71%
    2010-11          3,305,121              969,023                      29.32%
     Total          10,149,365             2,450,685                     24.15%


Northern Virginia    Total sf              Preleased sf                Preleased %
     2008            923,401                 87,696                       9.50%
     2009           1,706,126               404,868                      23.73%
    2010-11          353,088                 99,497                      28.18%
     Total          2,982,615               592,061                      19.85%


Suburban Maryland    Total sf              Preleased sf                Preleased %
     2008            615,686                 6,378                       1.04%
     2009           1,749,606               529,673                      30.27%
    2010-11             0                      0                         0.00%
     Total          2,365,292               536,051                      22.66%


 Metro DC total      Total sf              Preleased sf                Preleased %
     2008            2,589,629              434,040                      16.76%
     2009            9,249,434             2,076,237                     22.45%
    2010-11          3,658,209             1,068,520                     29.21%
     Total          15,497,272             3,578,797                     23.09%
                                /pulse/
                                Metro DC new supply - 3rd quarter 2008

       DC            Total sf   Preleased sf               Preleased %
      1Q             301,999        0                        0.00%
      2Q            1,158,559    630,899                     54.46%
      3Q             323,870        0                        0.00%
      4Q                                                     0.00%
   Total YTD        1,784,428    630,899                     35.36%


Northern Virginia    Total sf   Preleased sf               Preleased %
       1Q           1,917,990   1,433,164                    74.72%
       2Q           1,579,179    515,114                     32.62%
       3Q            579,922      41,505                     7.16%
       4Q                                                    0.00%
   Total YTD        4,077,091   1,989,783                    48.80%


Suburban Maryland    Total sf   Preleased sf               Preleased %
       1Q           299,188       70,304                     23.50%
       2Q           403,501       29,568                     7.33%
       3Q           199,093       71,603                     35.96%
       4Q                                                    0.00%
   Total YTD        901,782      171,475                     19.02%


 Metro DC total      Total sf   Preleased sf               Preleased %
       1Q           2,519,177   1,503,468                    59.68%
       2Q           3,141,239   1,175,581                    37.42%
       3Q           1,102,885    113,108                     10.26%
       4Q                                                    0.00%
   Total YTD        6,763,301   2,792,157                    41.28%
                                                                                                                                                                                                                    /pulse/
                                                                                                                                                                                                                    Washington, DC new supply - 3rd quarter 2008

                                                                                                                                                      Available space
                                   Address                     Building name                 Developer / owner             Project type    RBA sf                       Preleased sf   % preleased        Rent $ psf          Leasing company                              Major tenants
                                                                                                                                                             sf
Delivery Date of 2008 Total                                                                                                               1,784,428     1,138,529         645,899        36.20%
CBD                                                                                                                                        380,217        380,217            0            0.00%

                 2121 K Street, NW
       Q1        (Redevelopment/Expansion - 3 floors)                                 ING                                     Spec         51,999         51,999             0            0.00%          $45.00 NNN          Cushman & Wakefield


       Q2        1030 15th Street, NW                   Executive Building Phase II   INVESCO                                 Spec         328,218        328,218            0            0.00%      $37.00 - $44.00 NNN        Lincoln Property
East End                                                                                                                                  1,080,341       434,442         645,899        59.79%


       Q1        455 Massachusetts Avenue, NW                                         ASB Capital                             Spec         250,000       235,000           15,000         6.00%      $36.00 - $40.00 NNN      Jones Lang LaSalle        Reno & Cavanaugh PLLC (15,000 SF)


       Q2        450 5th Street, NW                     Liberty Square                Raymond Brophy                          Rehab        482,131          0             482,131        100.00%              n/a                                       Department of Justice (482,131 SF)


       Q2        1099 New York Avenue, NW                                             Tishman Speyer                          Spec         177,506        85,664           91,842        51.74%      $49.00 - $52.00 NNN        Tishman Speyer          Jenner & Block, LLP (86,790 SF)
                                                                                                                                                                                                                                                        Mortgage Bankers Association owns the development
                                                                                      Mortgage Bankers Association /                                                                                                                                    and will occupy approximately 65,000 SF and lease the
       Q2        1331 L Street, NW                                                    DRI                                      BTS         170,704        113,778          56,926        33.35%         Low $30's NNN            Transwestern           remaining space
NoMa                                                                                                                                       323,870        323,870            0           0.00%

       Q3        77 K Street, NE                                                      ING / Brookfield                        Spec         323,870       323,870             0            0.00%      $53.00 - $55.00 Gross Cassidy & Pinkard Colliers


Delivery Date of 2007 Total                                                                                                               3,719,093     1,421,505        2,297,588       61.78%

CBD                                                                                                                                        762,422        442,321         320,101        41.98%

       Q3        1152 15th Street, NW                   Columbia Center               UBS Realty Investors                    Spec         390,000        189,500         200,500        40.80%                                Monument Realty          SF)
       Q4        2101 L Street, NW                                                    Vornado                                 Spec         372,422        252,821         119,601        32.11%                                     Vornado             Greenberg Traurig (115,315 SF)
East End                                                                                                                                   811,866        187,379         624,487        76.92%
       Q1        975 F Street, NW                       Carroll Square                St. Patrick's Church / Akridge          Spec         177,198        38,917          138,281         78.04%                                    Akridge             Dewey Ballantine (90,156 SF); Kraft Foods (8,000 SF)
       Q2        620 F Street, NW                       Shakespeare Theatre           International Union of Bricklayers      Spec         120,000          0             120,000        100.00%                                                        AARP and International Union of Bricklayers
                                                                                                                                                                                                                                                        Cooley Godward Kronish (54,277 SF), Trial Lawyers has
       Q2        777 6th Street, NW                                                   CB Richard Ellis (TCC)                  Spec         192,000        137,043          54,957        28.62%                                 CB Richard Ellis        bldg under Rudnick (231,748 SF), Duane Morris (32,000
                                                                                                                                                                                                                                                        DLA Piper contract for occ.
       Q4        505 9th Street, NW                                                   Boston Properties                       Spec         322,668        11,419          311,249        96.46%                                Boston Properties        SF)

NoMa                                                                                                                                       291,838        291,838            0            0.00%
                                                                                      Pollinger recently purchased from
       Q1        1200 1st Street, NE                    Capital Plaza I               Stephen A. Goldberg Company             Spec         291,838        291,838            0            0.00%                                 CB Richard Ellis
Southeast                                                                                                                                 1,603,633       250,633        1,353,000        84.37%
       Q2        1200 New Jersey Avenue, SE             Southeast Federal Center      JBG                                     BTS         1,350,000          0           1,350,000       100.00%                                   JBG           Department of Transportation (1,350,000)
       Q2        20 M Street, SE                                                      Lerner Enterprises                      Spec         190,633        190,633            0            0.00%                              Cushman & Wakefield
       Q3        1800 Martin Luther King Jr Avenue,SE   Anacostia Gateway             District of Columbia                    Spec         63,000          60,000          3,000          4.80%                                  Transwestern
Southwest                                                                                                                                  249,334        249,334            0            0.00%
       Q3        425 3rd Street, SW                     Capitol View                  Clark Enterprises, Inc                  Spec         249,334        249,334            0            0.00%                                 CB Richard Ellis


Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs
                                                                                                                                                                                                                                        /pulse/
                                                                                                                                                                                                                                        Washington, DC development pipeline - 3rd quarter 2008

         Market         Status                        Address                    Building name               Owner / developer           Project type     RBA sf     Available space sf   Preleased sf   % preleased           Rent $ psf                Leasing company                             Major tenants

Washington DC 2008-2011 Totals                                                                                                                          10,149,365      7,698,680         2,450,685       24.15%

Delivery Date of 2009-11                                                                                                                                9,098,823       6,988,104         2,110,719       23.20%
Capitol Hill                                                                                                                                             525,437         354,226           171,211         32.6%
         Q1 '09            UC    300 New Jersey Avenue, NW                  America Square                     Ralph Dweck                  BTS          255,691         107,980           147,711         57.8%       High $70's to mid $80's NNN        JBG Companies           Jones Day (157,800 SF)
         Q4 '09            UR    440 1st Street, NW                                                         The Lenkin Company              Spec         104,746         104,746               0            0.0%           $50.00 - $55.00 FS             CB Richard Ellis
                                                                                                                                                                                                                                                                                  American College of Surgeons owns the building
         Q1'10             UC    20 F Street, NW                                                       American College of Surgeons         BTS          165,000         141,500            23,500         14.2%          $38.00 - $45.00 NNN           Jones Lang LaSalle        and will take 18,000 SF on the top floor.
CBD                                                                                                                                                     1,791,353       1,104,961          686,392         38.3%
                                                                                                                                                                                                                       Upper $60's to Lower $70's
         Q1 '09            UC    801 17th Street, NW                        Lafayette Tower           The Louis Dreyfus Property Group      Spec         244,812         232,355            12,457          5.1%                 NNN                      CB Richard Ellis        John Deere (8,000 SF)
                                                                                                                                           Spec
         Q1 '09            UR    1801 K Street, NW (11th and 12th floors)                                    Somerset Partners             Rehab         76,018           76,018               0            0.0%              $72.00 Gross              Jones Lang LaSalle
         Q1 '09            UR    1775 Pennsylvania Avenue, NW                                                 Tishman Speyer               Rehab         153,984         146,597            7,387           4.8%         $43.00 to $50.00 NNN             Tishman Speyer
         Q2 '09            UC    1999 K Street, NW                                                       Vornado / Charles E. Smith        Spec
                                                                                                                                           Spec          249,000            0              249,000         100.0%                 N/A                Vornado / Charles E. Smith   Mayer Brown (242,726 SF)
         Q2 '09            UC    1200 19th Street, NW                                                              Hines                   Rehab         308,394         225,726            82,668         26.8%          $44.00 - $46.00 NNN                  Hines              McKinsey & Company (76,000 SF)
                                                                                                                                                                                                                                                                                  PNC will occupy the first floor retail, 2nd floor and
         Q2 '10            UC    800 17th Street, NW                                                        PNC Bank / Vornado              Spec         365,000         291,167            73,833         20.2%       High $50's Low $60's NNN      Vornado / Charles E. Smith   the 12th floor for roughly 65,000 SF

         Q3 '11            UC    1000 Connecticut Avenue, NW                                                      Gewirz                    Spec         394,145         133,098           261,047         66.2%          $52.00 - $57.00 NNN          Cushman & Wakefield        Arent Fox (250,000 SF)
East End                                                                                                                                                 821,439         679,592           141,847         17.3%

         Q2 '09            UC    700 6th Street, NW                                                           Akridge / Mitsui              Spec         300,000         206,314            93,686         31.2%          $42.50 - $49.00 NNN                 Akridge             Cadwalader, Wickersham & Taft (92,211 SF)
                                                                                                                                                                                                                                                                                  Methodist Church and Hotel and Restaurant
         Q2 '09            UC    901 K Street, NW                                                             Carr Properties               Spec         260,843         218,409            42,434         16.3%          $49.00 - $55.00 NNN           Jones Lang LaSalle        Employees Union Condo on floors 2&3
         Q4 '09            UR    801 7th Street, NW                                                        Riverdale International         Rehab         106,200         106,200              0            0.0%                 Negot.                     Transwestern
         Q1 '10            UC    733 10th Street, NW                                                         PN Hoffman / ING              Spec          154,396         148,669            5,727          3.7%               $50.00 NNN                 CB Richard Ellis
Southeast                                                                                                                                                688,293         688,293               0            0.0%
         Q2 '09            UC    55 M Street, SE                                                             Monument Realty                Spec         274,264         274,264               0            0.0%            High $40's Gross             Monument Realty

         Q2 '10            UC    1015 Half Street, SE                                                      Opus East / Prudential           Spec         414,029         414,029               0            0.0%            High $40's Gross         Cassidy & Pinkard Colliers
Southwest                                                                                                                                               2,606,606       2,106,606          500,000         19.2%
         Q2 '09            UC    4th Street @ M Street, SW                  Waterside Mall               Vornado / Charles E. Smith      BTS Rehab       500,000             0             500,000         100.0%           High $40's Gross         Vornado / Charles E. Smith   District of Columbia (500,000 SF)
         Q3 '09            UR    400 7th Street, SW                         Constitution Center                David Nassif                Rehab        1,400,000       1,400,000              0            0.0%            High $40's Gross         Cassidy & Pinkard Colliers
         Q3 '09            UC    355 E Street, SW                           Three Patriots Plaza              Kennedy/MEPT                  Spec         383,877         383,877               0            0.0%               $50.00 FS                 CB Richard Ellis
         Q3 '09            UC    375 E Street, SW                           Two Patriots Plaza                Kennedy/MEPT                  Spec         322,729         322,729               0            0.0%               $50.00 FS                 CB Richard Ellis
NoMa                                                                                                                                                    2,234,795       1,623,526          611,269         27.4%
         Q1 '09            UC    1100 1st Street, NE                                                          Tishman Speyer                Spec         345,871         345,871              0            0.0%           $33.00 - $35.00 NNN             Tishman Speyer
         Q4 '09            UC    700 2nd Street, NE                         Station Place Phase III   The Louis Dreyfus Property Group      Spec         507,273         500,920            6,353          1.3%            $33.00 $39.00 NNN              CB Richard Ellis
                                                                                                      StonebridgeCarras/ Walton Street                                                                                                                                            Department of Justice (521,000 SF), Harris Teeter
         Q2 '10            UC    145 N Street, NE                           Two Constitution Square                Capital                  BTS          589,916             0             589,916         100.0%                 N/A                Cassidy & Pinkard Colliers   (50,000 SF)
                                                                                                      StonebridgeCarras/ Walton Street
         Q2 '10            UC    1275 1st Street, NE                        One Constitution Square                Capital                  Spec         379,074         364,074               0            0.0%              Low $50's FS           Cassidy & Pinkard Colliers
         Q2 '10            UC    90 K Street, NE                                                          Trammell Crow Company             Spec         412,661         412,661               0            0.0%              Low $50's FS               CB Richard Ellis
West End                                                                                                                                                 430,900         430,900               0            0.0%
       Q1 '11              UC    2200 Pennsylvania Avenue, NW               Square 54                        Boston Properties              Spec         430,900         430,900               0            0.0%               $60+NNN                   Boston Properties        LOI out with Hunton & Williams for nearly 200K

Delivery Date of 2008                                                                                                                                   1,050,542        710,576           339,966        32.36%
CBD                                                                                                                                                      419,442         386,182            33,260          7.9%
                                 1129 20th Street, NW
         Q4 '08            UC    (Redevelopment/Expansion)                  Liberty Center                 Liberty Property Trust           Spec         176,000         163,354            12,646          0.0%              $60.00 Gross              Jones Lang LaSalle
                                                                                                                                                                                                                                                                                  Citibank - retail. LOI out with World Bank for entire
         Q4 '08            UR    1225 Connecticut Avenue, NW                                                Brookfield Properties          Rehab         243,442         222,828            20,614          8.5%          $42.00 - $44.00 NNN           Brookfield Properties     building
East End                                                                                                                                                 386,574         168,054           218,520         56.5%
                                                                                                                                                                                                                                                                                  Knoll Furniture (11,819 SF), Baker Daniels (35,000
                                                                                                                                                                                                                                                                                  SF), Glaxosmithkline (13,172 SF), Shell Oil
         Q4 '08            UC    1050 K Street, NW                                                          The Lenkin Company              Spec         136,574          68,054            68,520         50.2%              $48.00 NNN                  CB Richard Ellis        Company (13,195 SF)
                                                                                                                                                                                                                                                                                  Bryan Cave (88,261 SF), Shook Hardy & Bacon
         Q4 '08            UC    1155 F Street, NW                                                    Douglas Development / Tishman         Spec         250,000         100,000           150,000         60.0%              $53.00 NNN                  Tishman Speyer          (37,572 SF), Simpson Thatcher (24,000 SF)
Southeast                                                                                                                                                244,526         156,340            88,186         36.1%
       Q4 '08              UC    100 M Street, SE                                                                Opus East                  Spec         244,526         156,340            88,186         36.1%         $45.00 - $47.00 Gross            CB Richard Ellis        Parsons Transportation (83,114 SF)


Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs
                                                                                                                                                                                                                                                                       /pulse/
                                                                                                                                                                                                                                                                       Northern Virginia new supply - 3rd quarter 2008

                   Submarket                     Address                          Building name                    Developer / owner        Project type    RBA sf     Available space sf   Preleased sf   % preleased   Rent $ psf       Leasing company                                         Major tenants

Delivery Date of 2008                                                                                                                                      4,406,212       2,193,167         2,209,362       50.14%
Alexandria                                                                                                                                                  340,955         171,345           169,610        49.75%
     Q1       Eis Ave           2318 Mill Road                       Carlyle Overlook                          MRP Realty                      Spec         250,000         121,895           128,105        51.24%      Negotiable    Cassidy & Pinkard Colliers   American Society of Clinical Oncology (128,105 SF)
     Q3       Eis Ave           2331 Mill Road                       Eisenhower Center III Office Bldg         Carlyle Development Corp.       Spec         90,955          49,450            41,505         45.63%      $39.00 /fs    Simpson Properties Limited   Reed Technology Services (34,600 SF)
Arlington County                                                                                                                                            815,821            0              815,821       100.00%
      Q1      Rosslyn           1919 N. Lynn Street                  Waterview                                 Paramount Group                 Spec         633,000            0              633,000       100.00%        N/A            Jones Lang LaSalle        Corporate Executive Board (625,062 SF)
      Q2      Shirlington       2800 S. Randolph Street              Randolph Square                           Transwestern                    Spec         182,821            0              182,821       100.00%      $33.50 /fs          Transwestern           PTO (182,821 SF)
Fairfax County                                                                                                                                             2,322,326       1,407,052          911,591        39.25%
      Q1       Rt 28 S          4807 Stonecroft Boulevard                                                                                      BTS          113,000            0              113,000       100.00%        N/A                                      Northrop Grumman TASC (113,000 SF)
      Q1       Reston           11091 Sunset Hills Road              Reston Eastpointe                         Vardell Realty Investments      Spec         195,890         195,890              0           0.00%       $36.00 /fs        Millennium Realty
                                                                                                                                                                                                                                                                    NII Holdings (52,000 SF), International Launch Services (26,000 SF), Rolls
     Q1       Reston            1875 Explorer Street                 Building 1                                Boston Properties               Spec         260,000         23,333            236,667        91.03%      $46.00 /fs         Prospective Inc.        Royce (78,000 SF)
     Q1       Reston            11950 Democracy Drive                Building 2                                Boston Properties               Spec         125,100         46,148            78,952         63.10%      $46.00 /fs         Prospective Inc.        comScore (62,203 SF), Fidelity Investments (8,000)
                                                                                                                                                                                                                                                                    Serco (90,000 SF), Federal Home Loans (25,000 SF), Preferred Offices
     Q1       Reston            1818 Library Street                  Building 3                                Boston Properties               Spec        250,000           64,560           185,440        74.18%      $46.00 /fs         Prospective Inc.        (25,800 SF), MERS (25,800 SF)
     Q2       Herndon           2303 Dulles Station Boulevard        Dulles Station East Building              Crimson Partners                Spec        186,732          180,000            6,732         2.69%       $35.50 /fs         CB Richard Ellis
     Q2       Herndon           2551 Dulles View Drive               Dulles View South                         Fifield Companies               Spec        171,457           63,774           104,000        60.66%      Negotiable         CB Richard Ellis        GTSI (104,000 SF)
     Q2       Herndon           2553 Dulles View Drive               Dulles View North                         Fifield Companies               Spec        171,457          171,457              0           0.00%       Negotiable         CB Richard Ellis
     Q2       Reston            12018 Sunrise Valley Drive           Two Reston Crescent                       Brookfield Properties           Spec        186,119          186,119              0           0.00%       $37.00 /fs      Cushman & Wakefield
     Q2       Rt 28 S           14501 George Carter Way              Long & Foster Corporate HQ                Long & Foster                   BTS         285,000           98,200           186,800        65.54%      Negotiable         CB Richard Ellis        Long & Foster (185,000 SF)
     Q2       Rt 28 S           3072 Centreville Road                Lincoln Park II-Bldg C                    Lincoln Property Company        Spec         96,920           96,920              0           0.00%       Negotiable    Lincoln Property Company
     Q2       Rt 28 S           3074 Centreville Road                Lincoln Park II-Bldg A                    Lincoln Property Company        Spec         96,920           96,920              0           0.00%       Negotiable    Lincoln Property Company
     Q3       Merrifield        3120 Fairview Park Drive                                                       Investments                     Spec        183,731          183,731              0           0.00%       $39.75 /fs    Cassidy & Pinkard Colliers
Loudoun County                                                                                                                                             593,110          529,627            63,483        10.70%
    Q1      Leesburg            552 Fort Evans Road                  Fort Evans Plaza II                                                       Spec         33,000           33,000               0          0.00%       Negotiable    Uniwest Commercial Realty
    Q1      Rt 7                20116 Ashbrook Place                                                           Merritt Properties              BTS          60,000             0               60,000       100.00%         N/A            Merritt Properties       American Red Cross (60,000 SF)
    Q2      Leesburg            540 Fort Evans Road                  Fort Evans Plaza II                                                       Spec         33,000           33,000               0          0.00%       Negotiable    Uniwest Commercial Realty
    Q2      Rt 28 N             22970 Indian Creek Drive             Loudoun Gateway V                         The Alter Group                 Spec        128,121          128,121               0          0.00%       Negotiable          Grubb & Ellis
    Q2      Rt 28 N             21625 Red Rum Drive                  Building A                                Kennedy Associates              Spec         51,153           51,153               0          0.00%       $17.75 /nnn     The Wiley Companies
    Q2      Rt 28 N             44095 Pipeline Plaza                 Ashburn Crossroads Professional Bldg      Keane Enterprises               Spec         57,600           54,117             3,483        6.05%       $26.00 /nnn    Marathon Realty Group
    Q3      Rt 28 N             45600 Woodland Road                  Atlantic Corporate Park                   RREEF                           Spec        115,118          115,118               0          0.00%        $29.75 /fs      Jones Lang LaSalle
    Q3      Rt 28 N             45610 Woodland Road                  Atlantic Corporate Park                   RREEF                           Spec        115,118          115,118               0          0.00%        $29.75 /fs      Jones Lang LaSalle
Prince William County                                                                                                                                       334,000         85,143            248,857        74.51%
     Q2        Rt 29            FBI Bldg                                                                       Peterson                        BTS          199,000            0              199,000       100.00%        N/A            Jones Lang LaSalle        FBI (199,000 SF)
     Q2        Woodbridge       13580 Groupe Drive                   Building 1                                The Engineering Groupe          Spec         60,000          28,722            31,278         52.13%      $28.50 /fs      Appian Realty Advisors     Groupe Engineering (31,278 SF)
     Q3        Rt 29/I-66       13575 Heathcote Boulevard            Building A                                Heritage Hunt Commerical        Spec         75,000          56,421            18,579         24.77%      $28.00 /fs       Larsen Commercial         AHC, Inc. (18,579 SF)



Delivery Date of 2007                                                                                                                                      3,083,198       2,180,731          902,467        29.27%
Arlington County                                                                                                                                            177,046         10,926            166,120        93.83%
     Q4       Ballston          4075 Wilson Boulevard                Two Liberty Center                        Shooshan                        Spec         177,046         10,926            166,120        93.83%         N/A          Cushman & Wakefield        DFI International (102,500 SF), Strategic Analysis (41,000 SF)
Fairfax County                                                                                                                                             2,506,533       1,963,144          543,389        21.68%
      Q1       Oakton           10580 Arrowhead Drive                Redwood Plaza III                         SMII Fairfax LLC                Spec          40,789          40,789              0           0.00%       $32.00 /fs        CB Richard Ellis
      Q1       Rt 28 S          14291 Park Meadow Drive              Plaza East II                             Tishman Speyer                  Spec         123,426         123,426              0           0.00%       $32.00 /fs        Tishman Speyer
      Q1       Rt 28 S          4840 Westfields Boulevard            Stoneleigh II                             Normandy Partners               Spec         105,833         105,833              0           0.00%       Negotiable    Cassidy & Pinkard Colliers
      Q2       Reston           11790 Sunrise Valley Drive           Reston Square                             The JBG Companies               Spec         153,355          20,934           132,421        86.35%      Negotiable        CB Richard Ellis         Whitney, Bradley & Brown (65,343 SF)
      Q2       Rt 28 S          14295 Park Meadow Drive              Plaza East I                              Tishman Speyer                  Spec         123,426         123,426              0           0.00%       $32.00 /fs        Tishman Speyer
      Q2       Rt 28 S          15052 Conference Center Drive        Stonegate II                              Opus East                       BTS          145,000            0              145,000       100.00%        N/A                Opus East             Lockheed Martin (144,196 SF)
      Q2       Rt 28 S          14426 Penrose Place                  Penrose Center                            Zumot Real Estate               Spec         150,384         150,384              0           0.00%       $27.00 /fs        Millenium Realty
      Q3       Herndon          13820 Sunrise Valley Drive           South Lake at Dulles Corner               Brandywine Realty Trust         Spec         267,351         267,351              0           0.00%       $36.00 /fs        CB Richard Ellis
      Q3       Rt 28 S          2900 Towerview Road                  2900 Towerview                            2900 Towerview Road, LLC        Spec         140,000          58,866           81,134         57.95%      $16.75 /nnn         Transwestern           Pulse Communications (78,000 SF)
      Q3       Herndon          2300 Dulles Station Boulevard        Dulles Station West Building 1            WRIT                            Spec         180,000         180,000              0           0.00%        $38.00 /fs         Grubb & Ellis
      Q3       Herndon          2260 Woodland Pointe Avenue          Woodland Pointe                           Tishman Speyer                  Spec         184,834            0              184,834       100.00%         N/A            Tishman Speyer           Volkswagen (184,834 SF)
                                                                     Lincoln Park III @ Dulles International
     Q3       Rt 28 S           13857 McLearen Drive                 Center                                    Lincoln Property Company        Spec         202,992         202,992              0           0.00%       $32.50 /fs    Lincoln Property Company
     Q3       Rt 28 S           15020 Conference Center Drive        Mission Ridge 1                           Pitcairn                        Spec         156,041         156,041              0           0.00%       $32.50 /fs       Jones Lang LaSalle
     Q3       Rt 28 S           15030 Conference Center Drive        Mission Ridge 2                           Pitcairn                        Spec         156,040         156,040              0           0.00%       $32.50 /fs       Jones Lang LaSalle
     Q4       Herndon           2550 Wasser Terrace                  Overlook Towers at Dulles Corner          Vardell Realty Investments      Spec         217,074         217,074              0           0.00%       $36.00 /fs        Millennium Realty
     Q4       Rt 28 S           14370 Newbrook Drive                 Commonwealth Centre                       BPG Properties                  Spec         159,988         159,988              0           0.00%       $32.00 /fs        Millennium Realty
Loudoun County                                                                                                                                              399,619         206,661           192,958        48.29%
    Q1      Rt 28 N             21575 Ridgetop Circle                Ridgetop III @ Loudoun Tech Center        Bavar Properties Group          Spec         90,000          90,000               0           0.00%       Negotiable    Cassidy & Pinkard Colliers
    Q1      Rt 7                43480 Yukon Drive                    Building A                                Edens & Avant, Inc.             Spec         60,000          27,191            32,809         54.68%      $26.00 /fs      The Wiley Companies        Kaiser Permanente (30,000 SF)
    Q1      Rt 28 N             43490 Yukon Drive                    Building B                                Edens & Avant, Inc.             Spec         60,000             0              60,000        100.00%        N/A           The Wiley Companies        Long & Foster (6,000), AllState (2,000 SF)
    Q2      Leesburg            801 Sycolin Road SE                                                            Park Center I LLC               Spec         70,000          28,150            41,850         59.79%      $25.00 /fs     Sperry Van Ness/Vaaler      County of Loudon (19,834 SF)
    Q4      Rt 7                19775 Belmont Executive Plaza        Building A                                Belmont Land, LP                Spec         119,619         61,320            58,299         48.74%      Negotiable    Cassidy & Pinkard Colliers   Toll Brothers (58,294 SF)


Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs
                                                                                                                                                                                                                                            /pulse/
                                                                                                                                                                                                                                            Northern Virginia development pipeline - 3rd quarter 2008

                   Status     Submarket                     Address                                  Building name                     Owner / developer          Project type    RBA sf     Available space sf   Preleased sf   % preleased    Rent $ psf           Leasing company                     Major tenants

Northern Virginia 2008-2010                                                                                                                                                      2,982,615      2,376,103          592,061        19.85%

Delivery Date of 2009-2010                                                                                                                                                       2,059,214      1,540,398          504,365        24.49%
Alexandria                                                                                                                                                                        120,400        120,400               0           0.00%
     Q2             UC        Old Town       1701 Duke Street                     Edmonson Plaza                             Carr Realty                             Spec         120,400        120,400               0           0.00%        Negotiable   Cassidy & Pinkard Colliers
Arlington County                                                                                                                                                                  664,554        606,679            57,875         8.71%
    Q4              UC        Crystal City   3500 S. Clark Drive                  National Gateway I at Potomac Yard         Meridian Group                          Spec         217,527        172,527            45,000         20.69%       $45.00 /fs   Jones Lang LaSalle           LA Fitness (45,000 SF)
    Q4              UC        Crystal City   3550 S. Clark Drive                  National Gateway II at Potomac Yard        Meridian Group                          Spec         221,939        221,939               0           0.00%        $45.00 /fs   Jones Lang LaSalle
   Q4 '10           UC        Clarendon      3000 Wilson Boulevard                Clarendon Center (North Block)             B.F. Saul                               Spec         107,386         94,511            12,875         11.99%       Negotiable   Cassidy & Pinkard Colliers
   Q4 '10           UR        Clarendon      3030 Clarendon Boulevard             Clarendon Center (South Block)             B.F. Saul                               Spec         117,702        117,702               0           0.00%        Negotiable   Cassidy & Pinkard Colliers
Fairfax County                                                                                                                                                                    866,060        519,119           332,490         38.39%
    Q2              UC        Springfield    6909 Metro Park Drive                MetroPark VIII                             ING Clarion Real Estate                 Spec         156,000        156,000              0            0.00%        Negotiable   Cushman & Wakefield
    Q3              UC         Tysons        1850 Towers Crescent Plaza           Towers Crescent                            AEW, Quadrangle                         Spec         295,000        280,549              0            0.00%        $52.00 /fs   Jones Lang LaSalle
    Q4              UC         Reston        11955 Democracy Drive                Democracy Tower                            Boston Properties                       Spec         235,433            0             235,433        100.00%       $44.50 /fs   Prospective Inc.             College Board (235,433 SF)
    Q4              UC         Herndon       1141-115151 Elden Street             Elden Place                                Montgomery Development Co.              Spec          51,627         41,192           10,435          20.21%       $30.50 /fs   Transwestern
   Q1 '10           UC        Merrifield     2900 Fairview Park Drive                                                        HITT/Fairview Property Investments      BTS          128,000         41,378           86,622          67.67%       Negotiable   Cassidy & Pinkard Colliers   HITT (86,622 SF)
Loudoun County                                                                                                                                                                    204,200        204,200               0           0.00%
     Q1             UC           Rt 7        20130 Lakeview Center Plaza          Lakeview Building A                        MRP Realty                              Spec         102,100        102,100               0           0.00%        Negotiable   Cassidy & Pinkard Colliers
     Q1             UC           Rt 7        20135 Lakeview Center Plaza          Lakeview Building B                        MRP Realty                              Spec         102,100        102,100               0           0.00%        Negotiable   Cassidy & Pinkard Colliers
Prince William County                                                                                                                                                             204,000         90,000           114,000         55.88%
     Q2             UC        Manassas       9705 Liberia Avenue                  Evergreen Terrace                          Aksoylu Properties LLC                  Spec          90,000         90,000              0            0.00%        Negotiable   CB Richard Ellis
     Q2             UC        Manassas       9111 Freedom Center Boulevard                                                   Appian Realty Advisors                  BTS          114,000            0             114,000        100.00%       Negotiable   Scheer Partners              Commonewalth of Virginia (114,000 SF)



Delivery Date of 2008                                                                                                                                                            923,401         835,705           87,696          9.50%
Alexandria                                                                                                                                                                        129,505        129,505               0           0.00%
     Q4             UC         Eis Ave       1920 Ballenger Avenue                Ballenger East                             LCOR                                    Spec         62,066          62,066               0           0.00%        Negotiable   CB Richard Ellis
     Q4             UC         Eis Ave       2050 Ballenger Avenue                Ballenger West                             LCOR                                    Spec         67,439          67,439               0           0.00%        Negotiable   CB Richard Ellis
Arlington County                                                                                                                                                                  380,198        325,379            54,819         14.42%
                                                                                                                                                                                                                                                                                          Arnold Worldwide (28,122 SF), Fitness First
     Q4             UR       Courthouse      1310 N. Courthouse Road              One Verizon Plaza                          MRP Realty                              Spec         380,198        325,379            54,819         14.42%       $40.00 /fs   Jones Lang LaSalle
                                                                                                                                                                                                                                                                                          (26,459 SF)
Fairfax County                                                                                                                                                                    323,698        290,821            32,877         10.16%
     Q4             UC          Tysons       7930 Jones Branch Drive              Park Place II                              B.F. Saul Company                       Spec         323,698        290,821            32,877         10.16%       $45.00 /fs   Cushman & Wakefield          Hogan & Hartson (32,877 SF)
Loudoun County                                                                                                                                                                    90,000          90,000               0           0.00%
     Q4             UC           Rt 7        44601 Scholar Plaza                  The Ashmill Bldg                           Hazel/Pruitt Partnership                Spec         90,000          90,000               0           0.00%        Negotiable   The Pruitt Corporation

Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs
                                                                                                                                                                                                                                          /pulse/
                                                                                                                                                                                                                                          Suburban Maryland new supply -3rd quarter 2008

    Market                  Submarket                        Address                           Building name               Developer / owner            Project type    RBA sf     Available space sf   sf preleased   % preleased    Asking rent $ psf       Leasing company                 Major Tenants

Delivery Date of 2008                                                                                                                                                  901,782         730,307            171,475        19.0%
Montgomery County                                                                                                                                                       739,982         583,507           156,475         21.1%
      Q1           I-270 Rockville               9707 Key West Avenue - Phase II DANAC Stiles Corp Campus           DANAC Corporation                      Spec         72,000          32,500             39,500         54.9%           Negotiable            CB Richard Ellis   MRS
                                                 Bldg 6
      Q1           1-270 Rockville               One Preserve Parkway             The Preserve @ Tower Oaks         Boston Properties                      Spec         183,788         152,984            30,804         16.8%      $39.00-$42.00 Gross         Transwestern      Booz Allen Hamilton

      Q2           I-270 Gaithersburg            200 Professional Drive           Seneca One                        Eisinger Kilbane & Associates The      Rehab        63,101          48,533             14,568         23.1%          $23.50 Gross            Grubb & Ellis     Montgomery County Teachers Federal
                                                                                                                    Williamson Group                                                                                                                                               Credit Union
      Q2           Bethesda-Rock Spring          6720B Rockledge Drive            Rock Spring Park Phase 1 Bldg 2   Opus East / Piedmont                   Spec         222,000         222,000              0            0.0%           $40.00 Gross         Jones Land LaSalle

      Q3           I-270 Rockville               2000 Tower Oaks Boulevard        Tower Oaks                        The Lerner Companies                   Spec         199,093         127,490            71,603         36.0%      $45.00-$46.00 Gross       Diamond Property    The Lerner Companies

Prince George's County                                                                                                                                                  75,000          60,000             15,000         20.0%
      Q2           Oxon Hill / Fort Washington   120 Waterfront Street            National Harbor                   The Peterson Companies                 Spec         75,000          60,000             15,000         20.0%          $36.00/e+ch             The Peterson
                                                                                                                                                                                                                                                                  Companies
Frederick County                                                                                                                                                        86,800          86,800               0            0.0%
      Q1           Frederick                     New Design Road                  Westview South Bldg 1 - Phase I   Abrams Development Group               Spec         43,400          43,400               0            0.0%            $18.50/nnn            Colliers Pinkard

      Q2           Frederick                     4991 New Design Road             Westview South Bldg 2 - Phase I   Abrams Development Group               Spec         43,400          43,400               0            0.0%            $18.50/nnn            Colliers Pinkard



Delivery Date of 2007                                                                                                                                                  1,472,083       971,895            500,188        34.0%
Montgomery County                                                                                                                                                       837,544         711,432           126,112         15.1%
      Q2           Bethesda-Rock Spring          6720 Rockledge Drive             Rock Spring Park                  Opus East / Piedmont                   Spec         187,000         187,000              0            0.0%           $40.00 Gross         Jones Lang LaSalle
      Q2           I-270 Gaithersburg            655 Watkins Mill Road            Monument Corporate Center I       Monument Realty, LLC                   Spec         200,000         200,000              0            0.0%           $31.50 Gross            Transwestern
      Q3           I-270 Rockville               805 King Farm Boulevard          Four Irvington Centre King Farm   ACP Mid-Atlantic                       Spec         220,000         220,000              0            0.0%           $38.00 Gross          ACP Mid-Atlantic

      Q4           I-270 Rockville               2200 Research Boulevard          Fallsgrove Research Center        Foulger-Pratt Companies                Spec         141,326         22,700            118,626         83.9%           Negotiable         Vanguard Realty Group American S/L/H Assoc.
      Q4           Rockville Pike                21 Church Street                 Rockville Town Center             Investment Properties, Inc.            Spec         89,218          81,732             7,486          8.4%           $37.50 Gross            Transwestern      Insurance Associates

Frederick County                                                                                                                                                        297,606            0              297,606        100.0%
      Q2           Frederick                     8480 Progress Drive              Riverside Corp. Park - Phase I    Matan Development                      Spec         297,606            0              297,606        100.00%             N/A                 Matan Realty      Wells Fargo Home Mortgage (279,606
                                                                                                                                                                                                                                                                                   SF)
Prince George's County                                                                                                                                                  336,933         260,463            76,470         22.7%
      Q2           Landover / Largo / Cap Hts    1401 Mercantile Lane             Executive Terrace Ph 2            Knollwood Development Corp.            Spec         87,933          80,463              7,470         8.5%       $29.50 - $33.50 Gross       Realty Service
      Q3           College Park                  6511 America Boulevard           The Cinema Building               Prince George's Metro Center           Spec         54,000            0                54,000        100.0%               N/A               Scheer Partners    FEMA

      Q4           Oxon Hill / Fort Washington   174 Waterfront Street            National Harbor                   The Peterson Companies, LC.            Spec         75,000          60,000             15,000        20.00%          $36.00/+elec            The Peterson
                                                                                                                                                                                                                                                                Companies, LC.
      Q4           College Park                  5825 University Research Court   M Square University of Maryland   Manekin Corporation                    Spec         120,000         120,000              0            0.0%           $28.00 Gross            The Michael
                                                                                                                                                                                                                                                                Companies, Inc.


Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs
                                                                                                                                                                                                                              /pulse/
                                                                                                                                                                                                                              Suburban Maryland development pipeline - 3rd quarter 2008

   Market      Status           Submarket                         Address                      Building name                 Owner / developer   Project type    RBA sf     Available space sf   Preleased sf   % preleased          Rent $ psf              Leasing company                       Major tenants

Suburban Maryland 2008-2009                                                                                                                                     2,365,292      1,829,241          536,051        22.66%

Delivery Date of 2009                                                                                                                                           1,749,606      1,219,933          529,673        30.27%
Frederick County                                                                                                                                                322,044         287,044            35,000        10.87%

     Q1          UC              Frederick         8490 Progress Drive                Riverside 5                   Matan Realty                    Spec         126,151        126,151               0           0.00%              Negotiable       Matan Realty

     Q1          UC              Frederick         5100 Buckeystown Pike              Westview Village Office       BF Saul                         Spec         61,000          61,000               0           0.00%             $26.50 Gross      CB Richard Ellis

     Q1          UC              Frederick         Crestwood Blvd - Building 1        Westview Commons              Abrams Development Group        Spec         65,000          30,000            35,000         53.85%             Negotiable       Colliers Pinkard

     Q2          UR              Frederick         340 E Patrick Street               Union Mills                   Douglas Development            Rehab         69,893          69,893               0           0.00%          $25.00-$30.00 Gross JSA Commercial Realty
Montgomery County                                                                                                                                               1,158,800       932,889           225,911        19.50%

     Q1          UC           Rockville Pike       12501 Ardennes Avenue              Twinbrook Place               Twinard Joint Venture           Spec         150,000        150,000               0           0.00%             $37.50 Gross      Uniwest Commercial Realty

     Q2          UC         I-270 Gaithersburg     9711 Washingtonian Boulevard       The Summit at Washingtonian The Peterson Companies            Spec         193,130        193,130               0           0.00%              Negotiable       Washington Property Company
                                                                                                                                                                                                                                                                                    Capital Source placed all of its sublease
     Q2          UC           Chevy Chase          5404 Wisconsin Avenue              Wisconsin Place               Boston Properties               Spec         295,000        133,800           161,200         54.64%          $35.00-$38.50 nnn   Boston Properities            space on the market

     Q3          UC           I-270 Rockville      530 Gaither Road Phase II          Redland Center                Perseus Realty                  Spec         210,240        210,240               0           0.00%              Negotiable       CB Richard Ellis

     Q3          UC           I-270 Rockville      520 Gaither Road Phase III         Redland Center                Perseus Realty                  Spec         136,430        136,430               0           0.00%              Negotiable       CB Richard Ellis

     Q3          UC           I-270 Rockville      12505 Park Potomac Bldg E          Park Potomac                  Foulger-Pratt Companies         Spec         174,000        109,289            64,711         37.19%             Negotiable       Cushman & Wakefield           Shulman Rogers (64,711 SF)
Prince George's County                                                                                                                                          268,762            0              268,762        100.00%

     Q3          UC            College Park        River Road @ Haiig Court           NOAA Building                 Opus East                       BTS          268,762           0              268,762        100.00%                N/A           Opus East                     NOAA will occupy 100% of building



Delivery Date of 2008                                                                                                                                           615,686         609,308            6,378          1.04%
Montgomery County                                                                                                                                               436,287         429,909            6,378          1.46%

     Q4          UR           Rockville Pike       12420 Parklawn Drive               Twinbrook Metro Park          The JBG Companies / DANAC      Rehab         93,000          93,000               0           0.00%             $26.00 Gross      Grubb & Ellis
                                                                                                                    New Tower Multi-Employer
     Q4          UC         I-270 Germantown       Milestone Center Court - Bldg 3    Milestone Business Park       Property Trust                  Spec         156,638        156,638               0           0.00%             $32.00 Gross      CB Richard Ellis

     Q4          UC         Silver Spring Rt. 29   10001 New Hampshire Avenue                                       10001 New Hampshire Inc.        Spec         51,716          51,716               0           0.00%              Negotiable       Jones Lang LaSalle

     Q4          UR         I-270 Gaithersburg     820 W Diamond Avenue               Quince Tree Executive Center HRPT Properties Trust           Rehab         134,933        128,555            6,378          4.73%             $25.00 Gross      Cushman & Wakefield
Prince George's County                                                                                                                                          179,399         179,399              0            0.00%
     Q4          UC          Branch Avenue         Capital Gateway Drive              Chelsea West (Office)                                         Spec         34,518          34,518               0           0.00%              Negotiable       NAI The Michael Companies

     Q4          UC               Bowie            16901 Melford Boulevard            Melford Plaza II              St. John Properties             Spec         144,881        144,881               0           0.00%              Negotiable       St. John Properties


Note: Only bldgs added to supply are included on this list
Supply consists of all A, B and C office bldgs > 30,000 square feet, excluding all medical, condo and owner occupied bldgs

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:0
posted:2/21/2013
language:Unknown
pages:8