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8301 Greensboro Dr, McLean,...

Hogan Lovells Leases 45000 Square Feet At 8301 Greensboro Dr McLean From The Meridian Group
LEASEDCondo

Hogan Lovells Leases 45000 Square Feet At 8301 Greensboro Dr McLean From The Meridian Group

8301 Greensboro Dr, McLean, VA, 221...

Building Size

45,000 SF

Asset Type

Condo

Closing

Jul 19, 2017

AI

The office asset is located at 8301 Greensboro Dr, McLean, VA, within the McLean market. The law firm Hogan Lovells has signed a lease for a total of 45,000 square feet, occupying the 17th floor and half of the 16th floor of the Boro Tower, a 20-story building currently under construction. This transaction marks the second office tenant for The Meridian Group at the site.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 8301 Greensboro Dr, McLean, VA
  • Market: McLean
  • Tenant: Hogan Lovells
  • Landlord: The Meridian Group
  • Square Feet: 45000
  • Tenant's Representative: Alexandria deVilliers - Savills Studley

The deal was brokered by CBRE's Rob Faktorow and Terry Reiley for the landlord, while Savills Studley's Rick Rome and Alexandria deVilliers represented Hogan Lovells. The law firm is expected to relocate approximately 70 attorneys from their previous office at 7930 Jones Branch Drive in June 2019. Additionally, Hogan Lovells joins media company Tegna, which had already committed to occupy 60,000 square feet in the Boro Tower.

Players

Alexandra deVilliers

Savills

Broker

2 deals

Broker
TG
The Meridian GroupLandlord
HL
Hogan LovellsTenant

Mc Lean Condo Market Snapshot

Boundary boundary · Condo · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93