Radio One Could Move Out Of Its Current Big Lease In Silver Spring
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The doldrums of the August real estate market woke up a little yesterday with the news that a large, private office tenant is looking for a new lease.
Radio One, which owns 55 radio stations and is currently HQ-ed at 1010 Wayne Ave and 8515 Georgia Ave in Silver Spring, is exploring options for relocating to either DC or elsewhere in Montgomery County, including a possible renewal, the Washington Business Journal reports. Ernie Jarvis (snapped above earlier this year) and his Jarvis Commercial Real Estate will be repping Radio One, Ernie confirmed to Bisnow yesterday.
Radio One's lease expires at the end of December 2017, and it's still possible that the company will renew, Ernie says. The WBJ reports Radio One is looking for up to 100k SF, but Ernie says he couldn't confirm a space target.
Outside of Marriott International's high-profile leasing decision, there aren't many private sector tenants that can match Radio One's reported target footprint. There are, however, plenty of large chunks of space in DC for Radio One to consider if it wants to cross the border. [WBJ]