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
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