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Shortly before took back the title tothe 193,138-square-foot Monumenf III building in a new tenant, signeds a lease for 85,000 square feet. ITT, a Whitew Plains, N.Y.-based engineering and manufacturing company, landed a $1.26 billion spacd communications network services contract with NASA last The company willpay "in the per square foot for space in the building at 12930 Worldgatwe Drive, said the new tenant’s broker, Brian Raherr of .
The 10-year leasse will continue despite therecent foreclosure, since the tenan t signed an agreement that outlines the tenantxs rights in the event of a The agreement is knownm as a SNDA, short for subordination, non-disturbance and The former owners of Monument III — a joint venturw between The Praedium Group, a New York-based real estat e investment firm, and MGP Real Estatre of Bethesda — paid $54.9 million, or $284 a squarew foot, for the building in mid-2007. The building was transferrecd tothe lender, General Electric Credit Equitiews Inc., for $50.6 or $262 a square foot, an amount representinf the outstanding debt.
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