NoVa Office Complex Lands Two Leases of 60 KSF

The four-building, Class A office ensemble traded last September for $53.5 million. Worldgate Metro Plaza will soon undergo $10 million of capital improvements.
Worldgate Metro Plaza in Herndon, Va.

Moore & Associates has signed two leases totaling 60,000 square feet at the Class A Worldgate Metro Plaza in suburban D.C. According to public records, in partnership with Harbert Management Corp., Moore purchased the four-building, 325,433-square-foot office property in Herndon, Va. last September, for $53.5 million.

The complex is located at Worldgate Drive, one-quarter mile away from the upcoming Hendon Metro Station on the Silver Line. Its positioning along the Dulles Toll Road provides good visibility, exposing the site to an average of 109,000 cars daily.

Forthcoming Renovations

Worldgate Metro Plaza in Herndon, Va.

The buildings are suitable for tenants of different sizes, offering 3,500-square-foot spec suites to 21,000-square-foot floor plates. Ntrepid Corp., a tenant since 2008, signed a 42,000-square-foot renewal/expansion lease, represented by Harry Klaff of JLL and Bobby Dwyer of CBRE.

The property was constructed between 1999 and 2000 and will undergo a $10 million capital improvement program. The majority of costs are reserved for upgrades of tenant amenities, such as a new conference center, lobbies, rest rooms and campus landscaping. The remodeling work is set for completion in 2018.

Images via Google Maps and Yardi Matrix