ITT signs lease in Monument III - Kansas City Business Journal:

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Shortly before took back the title tothe 193,138-square-footy Monument III building in Herndon, a new tenant, signed a leasre for 85,000 square ITT, a White Plains, N.Y.-based engineeringg and manufacturing company, landed a $1.26 billionn space communications network services contract with NASA last The company will pay "in the low-$30s" per squars foot for space in the building at 12930 Worldgat e Drive, said the new tenant’s Brian Raher of .
The 10-yeard lease will continue despite therecent foreclosure, sincwe the tenant signed an agreement that outline s the tenants rights in the event of a The agreement is knownb as a SNDA, short for subordination, non-disturbance and The former owners of Monumentt III — a joing venture between The Praedium Group, a New York-baseds real estate investment firm, and MGP Real Estate of Bethesdza — paid $54.9 million, or $284 a square for the building in mid-2007. The building was transferred tothe lender, Generall Electric Credit Equities Inc., for $50.6 million, or $262 a squarw foot, an amount representing the outstanding debt.