Newest Building in Ashburn Crossing Finds First Two Tenants
Excel Courier & Logistics and Fastsigns are the latest companies to lease space at Ashburn Crossing, an 80-acre business park in Ashburn, Va.
St. John Properties owns the 355,000-square-foot, nine-building portfolio, which is in NoVA’s high-tech business corridor and consists of flex and R&D space.
The new leases are the first at 21240 Ashburn Crossing Drive, the newest building in the park. The 43,620-square-foot property, which is slated to open later this year, is now 36 percent leased.
Excel Courier, which provides same-day delivery and logistics services throughout the mid-Atlantic region, is taking 10,080 square feet in the building. The company, which is based in Sterling, Va., plans to move 30 employees to the new office, where it will house its courier services and back-office operations.
Fastsigns, a sign and graphics company, is taking 5,520 square feet in the building. It is relocating from the Herndon, Va., area because its existing landlord sold the building housing its operations.
“The most recent leasing activity involves companies relocating to Ashburn Crossing from buildings in surrounding business communities,” Matt Holbrook, regional partner for St. John Properties, told Commercial Observer. “We believe a portion of this movement may be attributed to the displacement of tenants, and precipitated by data centers acquiring buildings for their own purposes.”
Earlier this month, three other tenants signed at Ashburn Crossing, with E2 Optics, Olive Innovation Technology and AVI-SPL taking a combined 50,000 square feet.
Danny Foit of St. John Properties represented the landlord in both leases. Chase Stewart of KLNB represented Fastsigns Herndon, and Leland Middleton of Savills represented Excel Courier in their respective leases.
Keith Loria can be reached at Kloria@commercialobserver.com.