JLL finalizes leases in Fort Washington, bringing occupancy to 100 percent

JLL announced that it has brokered two leases at 475 Virginia Drive, a Class B office building in Fort Washington, Pennsylvania. Working on behalf of the owner, Intercontinental Development, JLL arranged for Acclara Solutions to lease 38,717 SF. T-Mobile will take the remaining 24,112 SF, bringing the building to 100 percent occupancy.

475 Virginia Drive, Intercontinental’s fifth building acquired in Fort Washington, is its most significant redevelopment to date. Purchased completely vacant in December 2016, the building is undergoing extensive modernization to its lobby, common areas, restrooms, and landscaping, while adding outdoor seating areas and food service. Tenant spaces are undergoing complete re-designs and feature modern, open floor plans.

Upon completion of these improvements, Acclara will begin occupying their office space in Q1 2018, followed by T-Mobile in Q2.

The leases were completed by JLL Senior Vice President Doug Newbert and Associate Shannon Burns.

“As office demand, absorption, and prices continue to rise in Fort Washington, the market is becoming even more competitive,” said Newbert. “But large blocks of quality Class B space are scarce, so we knew there was a great opportunity to attract high profile tenants to 475 Virginia Drive. The strategy was successful, and we are thrilled by the companies we secured for the building.”

Nicholas Damm of Intercontinental Development added, “We are excited that our vision resonated with tenants so quickly. The project has come together extremely well and we are very happy with the product.”

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.