Friday, November 17, 2006

Northrop Grumman Signs $32 Million Build-to-Suit for Virginia Office Building

Commercial Property News - November 16, 2006

Corporate Office Properties Trust said today it is constructing at $32 million, one-story building for Northrop Grumman Corp. in Lebanon, Va., and has signed the defense contractor to a long-term, triple net lease for the 102,842-square-foot facility.

It is the second building and long-term lease that COPT, a Columbia, Md.,-based REIT that specializes in office parks in the Washington, D.C., metropolitan area, has secured for Northrop Grumman in support of its contract with the Virginia Information Technology Agency (VITA). The first, a $54 million, 193,000-square-foot building is under construction at the Meadowville Technology Park in Chesterfield County, Va., just south of Richmond, Va., a company spokesperson told CPN today. The one- and two-story building in the 1,300-acre corporate park should be ready for an estimated 600 Northrop Grumman and VITA workers by May, the spokesperson said.

The new building will be constructed in the Russell Regional Business Technology Park in Russell County, about 20 miles from Interstate 81. The building, which will also house Northrop Grumman and VITA workers, should be completed by November 2007, the spokesperson said. It will be used as a data center to back up the Richmond operations and also as a call center. Sphere: Related Content

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