Press release article from our research archive:

WRIT Delivers 49,000 Square Foot Terrace Building at 7900 Westpark Drive.

ROCKVILLE, Md., Sept. 23 /PRNewswire/ -- Sunrise Assisted Living has taken occupancy of Washington Real Estate Investment Trust's (NYSE: WRE) just completed Terrace Building at 7900 Westpark Drive. Sunrise will occupy the entire 49,000 square foot building as their corporate headquarters under a 12 year lease.

7900 Westpark Drive is a 527,000 square foot office complex in Tysons Corner, Virginia. Upon acquisition in November 1997, WRIT announced the opportunity to develop this addition and projected that the Terrace Building could produce a 12 unleveraged return on investment. With the development complete, WRIT now anticipates the Terrace Building's unleveraged return ...

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