The RMR Office Property Fund LP (the Fund) today announced that a leading engineering services firm has entered a five-year lease for approximately 20,000 square feet at the Funds property located at 14151 Newbrook Drive in Chantilly, Virginia. The 76,760 square foot, four story building is part of a five-building office park owned by the Fund which was recently updated with a new conference center and new fitness facility. The office park has generous on-site parking and is located adjacent to several dining and retail options.
The execution of this lease demonstrates, in part, that companies are increasingly attracted to suburban and urban infill office locations that offer workers access to modern amenities, said Chris Bilotto, Portfolio Manager, The RMR Office Property Fund LP and Vice President, The RMR Group. Establishing operations in locations experiencing population growth, like Chantilly, allows employers the opportunity to meet talent where it lives.
The Fund was represented by Andy Klaff of Newmark Knight Frank.
About The RMR Office Property Fund LP
The RMR Office Property Fund LP (The Fund) is a private, open end core plus fund focused on the acquisition, ownership and leasing of a diverse portfolio of multi-tenant urban infill and suburban office properties located in non-gateway cities throughout the U.S. The Fund is managed by The RMR Group LLC, the majority owned operating subsidiary of The RMR Group Inc.
About The RMR Group Inc.
The RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that was founded in 1986 to invest in real estate and manage real estate related businesses. RMR’s business primarily consists of providing management services to five publicly owned real estate investment trusts, or REITs, and three real estate related operating companies. As of December 31, 2018, The RMR Group LLC had approximately $29.7 billion of total assets under management, including more than 1,500 properties, and employed over 600 real estate professionals in more than 30 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
Timothy A. Bonang, Senior Vice President
The RMR Group