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NOAA Keeps 4,200 Jobs in Downtown Silver Spring; Renews Lease for One Million Square Feet

The U.S. General Services Administration (GSA), on behalf of the National Oceanic and Atmospheric Administration (NOAA), has signed a 15-year lease renewal for more than one million square feet of office space NOAA currently occupies among three buildings on East West Highway in Silver Spring.  NOAA’s leases were due to expire in 2013.

To ensure that NOAA’s approximately 4,000 jobs stayed here, County Executive Ike Leggett and the County Council approved a request from the Department of Economic Development to offer, as a financial incentive, a conditional grant not to exceed $12 million over 15 years.

NOAA has been the lead tenant in the Foulger-Pratt-owned buildings at 1305, 1315 and 1325 East-West Highway since they were constructed in 1990.

Read more.

CATEGORIES: Economy
POSTED AT: Friday, December 16, 2011 | 3:00:00 AM |
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Last edited: 11/8/2010