WATERFORD DEVELOPMENT ENTERS PRINCE WILLIAM COUNTY WITH INNOVATION EXECUTIVE CENTER

Reston, Va. – Waterford Commercial Development, LLC, in partnership with RER Equities, Inc. and Bouwfonds Property Finance, is pleased to announce the acquisition of 50.6 acres in the Innovation submarket in Prince William County, for the development of Innovation Executive Center. The project is a master planned commercial campus providing up to 640,000 square feet of one, two and three story, architecturally-integrated commercial product.

Innovation Executive Center is located within Prince William County’s Innovation Sector, an area strategically designed to foster economic development and partnerships between the County, George Mason University and the private sector. In addition to the growing number of offices and laboratory facilities, “Innovation @ Prince William” includes George Mason University’s bio-tech campus, the Virginia Forensic Science Laboratory, the FBI Northern Virginia field office, as well as a future Town Center with a full-service hotel and conference facility.

“We view this as a tremendous opportunity due to a number of factors,” says Chris A. Ciliberti, president of Waterford Commercial. “Clearly, this is an area which has and will benefit from Prince William County’s aggressive pro-business posture.”

Waterford also points to the significant commercial demand generators, both pre-existing and under construction, as positive signs for the market. Innovation Executive Center has been designed to provide first class commercial space to bio tech, technology and corporate firms doing business with those demand generators, currently present in Prince William County.

The project is also served by two separate 115 KVA transmission lines from two separate transmission points providing redundant, clean power. With the presence of multiple and dark fiber providers along with extremely competitive energy costs per KWH, Innovation Executive Center offers tremendous advantages for today’s technology or network integration firms. The 50.6 acre site also offers significant setbacks from area roadways, making the property ideal for security-conscious users.

Waterford Commercial was established to develop commercial real estate in the Washington, DC metropolitan area, concentrating primarily on new office development. Waterford Commercial is a subsidiary of Waterford Development, a Reston, Virginia-based full-service real estate development company with an office in Raleigh, North Carolina. Over the past 15 years, Waterford Development has developed thousands of acres of land and completed numerous unique residential communities, as well as innovative office and retail spaces. For more information, visit www.waterfordcommercialllc.com.