Former Discovery HQ In Silver Spring Signs First New Tenant

Foulger-Pratt has landed a major new tenant for its renovation of the former Discovery Communications headquarters. 

Children's National Health System signed a 15-year lease to occupy 140K SF across four floors in the building at One Discovery Place in Silver Spring, the Washington Business Journal first reported. 

The development team announced the deal in a release Wednesday afternoon. Foulger-Pratt Managing Director Michael Abrams tells Bisnow the team is also in talks with tenants that could occupy an additional 42K SF.  

"We continue to get good traction," Abrams said. "It's a great value proposition for tenants that want an urban environment and a rich amenity base for their employees, and it has an amazing transportation network."

Discovery departed the building earlier this year for New York, a move it announced in January 2018. Foulger-Pratt and Cerberus Capital Management acquired the 550K SF building in September for $70M. 

In March, the development team unveiled plans for its renovation of the property. It is rebranding the project as Inventa Towers and launching interior renovations including a new fitness center, conference center and upgraded common areas. It is also planning improvements to the outdoor courtyard and plaza, including new seating options, pathways and artistic installations. 

Children's is working with Gensler as its interior architect and plans to move into the building in 2020. The health system will consolidate staff from multiple locations, including one in Silver Spring, into the new office. JLL's Matt Coursen represented the tenant, while JLL's Andrew Masters and Amanda Davis represented the landlord. 

UPDATE, MAY 1, 5:30 P.M. ET: This story has been updated to include comments from Abrams.