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Lerner Pre-Leases Sterling Park Technology Center

Sterling, Virginia, November 10, 2004 – Lerner Enterprises of North Bethesda, Maryland, one of Washington, D.C.'s premier real estate developers, has announced the commencement of the development of an 80,000 square foot build-to-suit, office/tech building for the U. S. Government at Sterling Park Technology Center. The project will be located on Shaw Road near Route 28 and Sterling Boulevard in Sterling, Loudoun County, Virginia.

"We are extremely pleased to welcome the GSA to Sterling Park Technology Center, which is the third phase of Sterling Park Business Center, a 72 acre multi-phased office/flex/technology project in Sterling, Virginia. This transaction is a result of a formal bid process, and is a testament to the strong team we have assembled for this unique project and our desire to continue with our strong relationship as Landlord to a myriad of Governmental Agencies", said Mark D. Lerner, a Principal of Lerner Enterprises.

The team members include: HITT Construction of Fairfax, Virginia, DVA Architects of Gaithersburg, Maryland, KTA Engineering of Herndon, Virginia, SK&A Structural Engineers of Rockville, Maryland and Diamond Property Company of McLean, Virginia. Lerner Corporation, an affiliate of Lerner Enterprises, will perform management services for the project.

Lerner Enterprises, founded by Theodore N. Lerner in 1952, is the largest private real estate developer in the Washington, D. C. metropolitan area. The company is involved in all phases of office, retail, hotel, sports & entertainment and residential real estate including planning, development, construction, leasing, asset and property management. Among its extensive office portfolio is The Corporate Office Centre at Tysons II, The Corporate Office Park at Dulles Town Center, Flint Hill Office Park, 7799 Leesburg Pike, Vintage Park, Beaumeade Corporate Park, Sterling Park Business Center 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 L Street and 1133 Connecticut Avenue in downtown Washington, D. C.

In addition to Sterling Park Technology Center, Lerner has the following projects currently planned or under development including:

  • Parc Dulles at Dulles Town Center. A 393 unit luxury garden apartment development at Routes 7 and 28 in Dulles, Loudoun County, Virginia. Construction will begin in January 2005.
  • Residence Inn by Marriott - Dulles Airport. A 151 room suite hotel located in Dulles 28 Centre at Routes 28 and 625 in Dulles, Loudoun County, Virginia. The hotel will open in Fall 2005.
  • 1800 Tysons Boulevard. A 320,000 square foot world class office tower in The Corporate Office Centre at Tysons II in McLean, Fairfax County, Virginia. The building will be completed in Fall 2005.
  • 20 M Street, S. E. A 190, 000 square foot Class 'A' office building at the Navy Yard Metro Station. Construction will begin in Spring 2005.