3 Office Tenants Sign at Ashburn Crossing in Northern Virginia
By Keith Loria May 9, 2023 5:27 pm
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Ashburn Crossing in Ashburn, Va., has signed three new tenants across approximately 50,000 square feet in two buildings at the 80-acre business park.
AVI-SPL, a Tampa, Fla.-based audio and video installer, signed a 32,040-square-foot lease at 46,080-square-foot building 21210 Ashburn Crossing Drive. The company’s reach is global, with roughly 50 locations in the United States, in addition to international outposts.
Olive Innovative Technology, which refurbishes computers, signed for 8,280 square feet of space at the same building.
E2 Optics, a woman-owned data solutions company, inked 9,000 square feet at 21220 Ashburn Crossing Drive. The company is relocating from the nearby Ashburn Technology Park and expanding its space.
St. John Properties owns Ashburn Crossing, which is in NoVA’s high-tech business corridor and comprises nine buildings totaling approximately 355,000 square feet of flex and R&D space.
St. John Properties delivered two of the buildings last year on spec, and another is coming this summer.
“We continue to expand our portfolio in the Northern Virginia region with highly flexible and strategically located commercial real estate buildings that satisfy the emerging needs of a wide range of companies,” Matt Holbrook, regional partner for St. John Properties, said in a prepared statement. “Our long-standing corporate mission to develop properties on a speculative basis has been rewarded with another vibrant leasing year, and we expect this strong activity and momentum to persist.”
Rents were not disclosed. But a recent Avison Young report pegged average direct asking rents in the Northern Virginia office market at $33.77 a square foot.
Ashburn Crossing is at the intersection of the Loudoun County and Gloucester parkways near the intersection with Route 28. A few years ago, the business park received acknowledgement as the top R&D/industrial/flex project in the region by NAIOP Northern Virginia, according to a statement.
Danny Foit of St. John Properties represented the landlord in all four lease transactions. It was not immediately clear who represented the tenants.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at Kloria@commercialobserver.com.
