Ashburn, Virginia, March 12, 2020 (GLOBE NEWSWIRE) -- An undisclosed e-retailer has signed a full-building lease with Merritt Properties for 137,350 square feet of space within the developer’s I-66 Business Park, a six-building Class-A industrial park located in Prince William County. The building will be used for warehousing purposes and is set to be completed next month. The retailer intends to occupy the space this summer.
CBRE brokers Tony Russo and Diane Drobia represented the developer and the full-building user in the transaction.
“Leasing activity has exceeded our projections and triggered construction of our final building within the park,” said Michael Larkin of Merritt’s Virginia office. “With tremendous access to transportation systems, this park has seen high demand over the past three years, and we look forward to assisting more customers with their warehousing and distribution needs as we reach full occupancy.”
Elsewhere in the park, new tenant Traffic Systems, Inc. is moving into 14,462 square feet this month, and United Brokerage Packaging is expanding into 20,000 additional square feet, bringing their total to 53,967 square feet at I-66 Business Park.
“Everyone at United Brokerage Packaging feels very fortunate to have been the first tenant in Merritt’s I-66 Business Park project. Because of our steady growth in the Northern Virginia market, we are expanding into a second building within the park,” said John Villermaux, general manager of United Brokerage Packaging. “Merritt has yet again made this process seamless.”
To date, Merritt has leased 393,000 square feet to 11 tenants within the park. This activity brings overall occupancy throughout the first five buildings at Merritt I-66 Business Park to 83 percent.
Construction on the final building, a 97,200-square-foot warehouse, is set to start next month and deliver during the third quarter of 2020. Once complete, the park will total 596,900 square feet.
Situated along Interstate 66, I-66 Business Park is located 28 miles west of Washington, DC, just east of the Prince William Parkway and the Route 234 Bypass in Manassas, Virginia. Buildings range from 30,600-137,350 square feet and offer 18 to 32-foot clear heights. Each property is rear loaded and provides dock and drive-in capabilities.
Merritt’s I-66 Business Park is being leased by Shaelyn Mullaney and Scott Longendyke of Merritt Properties.
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