Prime US REIT secures 120,000 sq ft anchor lease at Waterfront At Washingtonian

The deal boosts the building’s occupancy to over 85%.

Prime US REIT has secured a new 11-year lease for at least 120,000 square feet at Waterfront At Washingtonian in Gaithersburg, Maryland.

The tenant is a U.S.-based clean energy and fuel design firm backed by a major global e-commerce company.

The deal boosts the building’s occupancy to over 85%, up from 33% before recent renovations. The lease is the largest commitment since the property’s upgrade was completed in October 2024.

This follows a 43,000-square-foot lease signed in June at Village Center Station I in Denver with a global engineering and consultancy firm—also now a tenant at Waterfront At Washingtonian.

The property now features a modern lobby with concierge, two tenant lounges, a 1,800-square-foot flexible conference center, a full-service gym overlooking the lake, and a Grab & Go café with water views.

Prime US REIT completed a US$550m refinancing in August 2024, strengthening its balance sheet and helping it attract high-quality tenants amid a U.S. office market shift toward upgraded, well-managed properties.