News

April 5, 2010

Lincoln Closes 10-Year deal with Balfour Beatty Construction

Lincoln Property Company has closed a 10-year lease with Balfour Beatty Construction, LLC for the entire fifth floor at Bridgewater Corporate Center in Fairfax, Va.

Balfour Beatty is a world-class infrastructure group operating in construction services, professional services, support services and infrastructure investments. Headquartered in Dallas, Balfour Beatty Construction will use the 26,000 square feet of office space as its Washington Division Office, which is home to more than 100 employees.

Bridgewater Corporate Center is an eight-story, class A office building with a shaded outdoor picnic area and a large two-level reflecting pool with a walkway bridging the pool to the office building.

Genelle McDonald, the chief estimator for Balfour Beatty, said the company’s goal in looking for a new space was to find a building that had “open space and was environmentally-friendly.” Balfour Beatty was previously located at 3924 Pender Drive, only a few blocks away.

“We communicated our needs, including proximity to our former location, public transportation and a major roadway, as well as a space that supported our sustainable goals,” McDonald said. “Lincoln was very accommodating in structuring and securing a lease that allowed us to meet those goals.”

Neil Alt, head of Lincoln Property Company’s leasing transactions in Virginia, said the lease with Balfour Beatty is more evidence that commercial real estate activities are picking up momentum along with firms like Balfour, looking to upgrade the quality of office space they provide to their employees.

Alt along with Doug McLearn and Eamon McCrann with Lincoln Property Company represented the landlord, TR Bridgewater Corp. Mark Larsen with Larsen Commercial Real Estate represented Balfour.