Thanks to a major new anchor tenant and recent extensive renovations, the former Sodexo headquarters in Gaithersburg has been effectively rebranded as Waterfront at Washingtonian and is currently 85% leased.
In late June 2025, Prime US REIT, a Singapore-listed real estate investment trust, said that it had signed an 11-year lease for at least 120,000 square feet with an innovative clean energy and fuel design engineering company in the United States, supported by a major global e-commerce company. Together with previous leasing efforts, this significant commitment has significantly increased the building’s occupancy from 33% before renovations to over 85%.
In order to create a contemporary, amenity-rich office destination, the 325,455 SF Waterfront at Washingtonian underwent a renovation that was finished in October 2024. Two new tenant lounges, a 1,800-square-foot flexible conference center, a full-service gym with a view of the lake, a Grab & Go Cafe with views of the water, and a two-story, light-filled lobby with concierge are among the improvements. These amenities, which are in line with the expanding flight-to-quality trend in the US office market, are intended to promote community, wellness, and cooperation.
“This partnership reflects our shared focus on creating workplaces that employees want to return to,” said Rahul Rana, CEO of Prime US REIT Management, highlighting the success. He also mentioned that a recent 43,000 square foot deal with a company that is currently a tenant at Waterfront at Washingtonian at Village Center Station I in Denver, another Prime US REIT asset, confirms their dedication to consistently high quality and outstanding experiences. By the end of the year, Prime US REIT anticipates a net increase in the occupancy of its whole portfolio.
