Chantilly, VA - January 25, 2010 — Normandy Real Estate Partners, one of the largest real estate developers, owners and operators in the Boston to Washington, D.C. corridor, today announced that Community Management Corporation, Inc., an Associa Company, has leased 31,556 sf at Normandy’s Stoneleigh II property in Chantilly, VA. The deal brings Stoneleigh I and II, which are Class A, 5-story office buildings, to 98% occupancy. Community Management Corporation, Inc. was represented by Jake Katz and Brian McMullan of Jones Lang LaSalle, while the landlord was represented by Spencer Stouffer and Tim Summers of Cassidy & Pinkard Colliers.

 

“In a very compressed timeframe, Normandy was able to quickly step up and deliver a prestigious, Class A building with aggressive lease terms that met our needs,” said Brett Carr, Community Management Corporation, Inc. “The Stoneleigh complex is really the most desirable corporate office park in the Route 28 submarket, in a wonderful location, and with plans already in place to further develop the area with a new hotel and retail establishments.”

 

“We are proud of our track record in delivering time and again for tenants, by staying true to the characteristics that set Normandy apart from the competition, like providing flexible lease terms, open dialogue, and listening to what a potential tenant’s needs are and providing an optimal  office environment,” said, Paul Teti, Vice President , Normandy Real Estate Partners. “Those fundamentals have been the keys to our successes, even in this competitive market.”

 

Stoneleigh I & II, which are 107,119 and 106,845 sf, respectively, were completed in 2007 and are located in the Westfields corporate office park. Both buildings have nine-foot finished ceiling heights and a state-of-the-art fitness facility. With the National Reconnaissance Office (NRO) in close proximity, the complex houses some of the nation’s leading government contractors. In addition, new highway construction has made the entire complex even more accessible and reduced drive time to the NRO area.

 

Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.0 billion of equity commitments. Normandy’s existing portfolio includes 14 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments primarily in the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.

 

As one of the first management companies to specialize in common interest communities, Associa is America’s leading community association management and developer services company. With more than 100 offices across the nation and growing, Associa is the largest company in the United States devoted exclusively to the management of community associations, representing thousands of communities coast to coast.