WASHINGTON, Oct. 30 (UPI) -- U.S. Internet firm AOL said it reached a deal to sell 22 acres of property near Washington to CB Richard Ellis Realty Trust for $144.5 million.
The property is mostly undeveloped, but it does include a 700,000-square-foot office building, most of which is leased by defense contractor Raytheon, The Washington Post reported Saturday. CB Richard Ellis intends to honor a 10-year lease Raytheon signed in 2009 for 600,000 square feet of space.
"We find this an excellent location and very attractive set of resources with respect to the Northern Virginia market," Ellis Trust Chief Operating Officer Phil Kianka said.
The company said it would entertain project ideas for the undeveloped portion of the project in what is known as the Dulles campus, located about 5 miles from the Washington Dulles International Airport.
AOL still employs 1,800 workers at the site, even though it moved its headquarters to New York in 1996.
