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Leasing at Fallsgrove Village Office Center Heats Up with Five New Tenants

Rockville, MD, July 18, 2005 – Five new tenants have recently signed leases totaling 21,553 sq. ft. at Fallsgrove Village Office Center, a 72,000 sq. ft. three-story Class "A" office building located at 14955 Shady Grove Road in Rockville, Maryland.

The tenants include Arthritis & Rheumatism Associates, PC, Pediatric Psychology Center, LLC, Stern Greenbaum, Kranendonk & Schwartz, Weichert Co. of Maryland, Inc. and Richard Chang, DMD. Existing tenants in the building include Adventist Healthcare and several medical offices. The building now 90% leased. CB Richard Ellis brokers Larry Thau, David Machlin and Betsy Schuman represented Lerner Enterprises in these transactions. CB Richard Ellis is the exclusive leasing agent for Fallsgrove office projects.

"The area surrounding the Fallsgrove Village Office Center has exploded in the past few years. Its location across the street from Shady Grove Adventist Hospital in the heart of Montgomery County's life sciences and technology corridor plus the top-notch amenities at the Fallsgrove Village Shopping Center make this building a prime location for a variety of businesses," said David Machlin, First Vice President of CB Richard Ellis.

"For more than 50 years, Lerner has prided itself on building first class communities, office and retail developments. Fallsgrove continues that tradition," said Larry Thau, Senior Managing Director of CBRE's Bethesda office.

CB Richard Ellis
Headquartered in Los Angeles, CB Richard Ellis is the world's leading commercial real estate services firm. With approximately 14,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide. The company's core services include property sales, leasing and management; corporate services; facilities and project management; mortgage banking; investment management; capital markets; appraisal and valuation; research; and consulting. For more information, visit the company's web site at cbre.com

Lerner Enterprises
Lerner Enterprises of North Bethesda, Maryland, founded by Theodore N. Lerner in 1952, is one of the Washington, D.C.'s largest real estate developers and is involved in all phases of office, retail and residential real estate including planning, development, construction, leasing, asset management and property management. The company's retail portfolio includes regional malls Dulles Town Center in Dulles, VA and White Flint in North Bethesda, MD and neighborhood centers Annapolis Harbour Center, Annapolis, MD, North Point Village Center, Reston, VA, The Spectrum at Reston Town Center, Reston, VA and Towne Plaza in Rockville, MD. Lerner's office portfolio includes The Corporate Office Centre at Tysons II, The Corporate Office Park at Dulles Town Center, Washington Square at Connecticut Avenue and L Street, N.W., White Flint North and 7799 Leesburg Pike among others. Additional information on Fallsgrove Village Office Center is available at:
FallsgroveOffice.com
FallsgroveVillageCtr.com