WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that T Systems North America, Inc. has signed a five-year lease expansion and renewal for 7,486 square feet of office space at Parkridge V, located at 10780-10790 Parkridge Boulevard in Reston, VA. Cassidy Turley’s Spencer Stouffer, Tim Summers, Scott Goldberg and Shaun Collins represented the building owner, Garrison Investment Group. The tenant was represented by Andrea Van Gelder with Jones Lang LaSalle.
“This expansion and renewal speaks volumes about the building’s new ownership, Garrison Investment Group, which controls 500,000 square feet in the market, and FD Stonewater’s proactive asset management,” commented Spencer Stouffer, Senior Managing Director, Principal with Cassidy Turley. “By renewing and expanding their operations for five years in what is considered a very competitive marketplace, T Systems North America, Inc. has shown its confidence in Parkridge V and the new owner. This is the first of several deals at this building that will be announced over the coming months,” he continued.
Jeff Toporek, asset manager for FD Stonewater further commented, “The Cassidy Turley team did a remarkable job approaching the tenant immediately after they were awarded our Reston portfolio leasing assignment. They gave existing tenants confidence in the new ownership’s ability to make decisions quickly and helped us show them that we have the capital available to execute lease transactions. This demonstrates our fully integrated team approach and the willingness to get deals done efficiently for all parties.”
Parkridge V is a 205,000 square foot office building located in Parkridge, Reston's largest office park. Located at the intersection of Hunter Mill Road and Parkridge Boulevard, it offers immediate access to the Hunter Mill-Dulles Expressway interchange and unobstructed visibility from the Dulles Toll Road. Parkridge has dual entrances and features an interior ring road with access to a two-acre pond, volleyball and croquet courts, a picnic area, fitness center, outdoor fountains and a deli.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,500 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals across the globe. Please visit www.cassidyturley.com for more information about Cassidy Turley.