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Trex Company Signs Major Lease at Dulles Town Center

Dulles, Virginia, July 5, 2005 - Lerner Enterprises of North Bethesda, Maryland, one of Washington, D.C.'s premier real estate developers, has announced that it has executed a long-term lease with Trex Company, Inc. for their 80,071 square feet national headquarters at 21000 Atlantic Boulevard in The Corporate Office Park at Dulles Town Center.  21000 Atlantic Boulevard, a winner of the Award of Excellence in the Annual Best of NAIOP Awards, is a seven story, Class "A" office building located at the intersection of Routes 7 and 28.  Lerner was represented in the transaction by Jeffrey K. Diamond and Brian F. Tucker of Diamond Property Company of McLean, Virginia.  Trex Company, Inc. was represented by Paul Darr and Dale Powell of Cassidy & Pinkard Companies.

Trex Company, Inc. (Trex.com) (NYSE: TWP) is the manufacturer of Trex® decking and railing, the leading brand of alternative decking lumber in North America.  A former division of Mobil Corporation, the company was formed by four Mobil executives in 1996 and went public in April 1999.

"The Corporate Office Park at Dulles Town Center is truly a gateway location, with easy access, major amenities and space for growth," said Robert Matheny, Chairman and CEO of Trex Company, Inc.  "Most importantly, access to the larger skilled professional labor pool and corporate services in this area will allow us to better support our continued growth as a company."

"We are excited about welcoming Trex Company as our lead office tenant at Dulles Town Center," stated Mark D. Lerner, a principal of Lerner Enterprises.  "We see this as a significant sign of Loudoun County's strength and look forward to further developing this mixed-use site where people can live, work and shop."

21000 Atlantic Boulevard is located within Dulles Town Center, a 554 acre mixed-use project now under development in Dulles, Loudoun County, Virginia.  The project will include:

  • Dulles Town Center Mall, a 1.4 million square foot super-regional mall featuring Hecht's, Nordstrom, Lord & Taylor, JCPenney, Sears, H&M, Haverty's Furniture and over 150 fine stores, restaurants and services
  • 4.5 million square feet of office space known as The Corporate Office Park at Dulles Town Center
  • Parc Dulles at Dulles Town Center, a 393-unit, luxury garden apartment development at Routes 7 and 28 in Dulles, Loudoun County, Virginia (Phase I opening Spring 2006)
  • 1,100 residences including Colonnade Townhomes and Remington at Dulles Town Center Apartment Homes
  • A 156-room, full-service hotel and conference center, Courtyard by Marriott Hotel
  • A KinderCare Learning Center
  • The 30 million dollar road network is complete

In addition to 21000 Atlantic Boulevard, Lerner's current projects include:

  • 1800 Tysons Boulevard.  A 13-story 320,000 square foot, world-class office tower in The Corporate Office Centre at Tysons II located at Tysons Boulevard and Galleria Drive in McLean, Fairfax County, Virginia.  PricewaterhouseCoopers has leased 185,000 square feet and will be the lead tenant in the building.  The project is now under construction and will be completed in fall, 2005.
  • Residence Inn by Marriott – Dulles Airport.  A 151 room suite hotel located in Dulles 28 Centre at Routes 28 and 625 at Pacific Boulevard in Dulles, Loudoun County, Virginia.  The project is now under construction and will open in February, 2006.
  • Dulles 28 Centre.  A 300,000 square foot shopping center located next to the 130,000 square foot Wegman's Food Market at Routes 28 and 625 at Pacific Boulevard in Dulles, Loudoun County, Virginia.  The project will begin construction in early 2006 and is being developed in a joint venture with The Tower Companies of North Bethesda, Maryland.
  • The Falls at Flint Hill.  A 242 unit luxury residential condominium community located at Route 123 (Chain Bridge Road) and I-66 at Rosehaven Street in Fairfax, Virginia.  Sales will begin this fall and groundbreaking for the project will be in February, 2006.
  • Parc Dulles at Dulles Town Center.  A luxury apartment community with 393 units located at City Center Boulevard and Stefanie Place in Dulles, Loudoun County, Virginia.  Construction is now underway and Phase 1 delivery is scheduled for summer, 2006.
  • 22400 Shaw Road.  A 80,000 square foot office/flex building in Sterling Park Technology Center in Sterling, Loudoun County, Virginia.  The project is now under construction and will be delivered in spring, 2006.  The building is fully leased to the General Services Administration for use as a regional office of the United States Drug Enforcement Administration.
  • 20 M Street.  A 190,000 square foot Class 'A' office tower located adjacent to the Navy Yard Metro Station and the site of the future Washington Nationals Stadium in Southeast Washington, D.C.  Construction is scheduled to begin in August and completion is scheduled for summer, 2007.
  • Fallsgrove Corporate Center.  A 208,000 square foot class 'A' office tower at 1900 Research Boulevard in Rockville, Maryland.  Construction is scheduled to begin in spring, 2006.

Lerner Enterprises, founded in 1952 by Theodore N. Lerner, is Washington, D.C.'s largest private real estate developer and is involved in all phases of office, retail, hotel, sports & entertainment and residential real estate including planning, development, construction, leasing, and asset and property management.  Among its extensive office portfolio is The Corporate Office Park at Dulles Town Center, Flint Hill Office Park, 7799 Leesburg Pike, Vintage Park, Sterling Park Business Center, Beaumeade Corporate Park and 400 Army Navy Drive in Northern Virginia; White Flint North, Fallsgrove Village Office Center and Towne Plaza in suburban Maryland; Washington Square at 1050 Connecticut Avenue and 1133 Connecticut Avenue in downtown Washington, D. C.
Additional information on The Corporate Office Park at Dulles Town Center and Lerner Enterprises is available at
DullesTownCenter.com.