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CarrAmerica Development Announces 65,000 Sqft Lease Agreement

13 April 2000

CarrAmerica Development Announces 65,000 Square Foot Lease Agreement With American Honda Finance in Dallas    

      Construction to Begin on Third Phase of Royal Ridge Office Campus


    WASHINGTON, April 12 CarrAmerica Development, Inc., an
affiliate of CarrAmerica Realty Corporation , today announced the
signing of a 65,000 square foot lease agreement with American Honda Finance at
Royal Ridge Building VII in Dallas, Texas. Royal Ridge Building VII is one of
two buildings making up the third phase totaling 260,000 square feet of office
space. American Honda Finance will occupy 50% of Building VII, a 130,000
square foot, two-story office building scheduled for completion in December
2000. Construction is also planned to begin on Royal Ridge Building VIII in
the summer of 2000.
    (Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20000412/DCW044 )
    CarrAmerica Managing Director for Dallas, Bill Vanderstraaten, commented,
"We are pleased that American Honda Finance has chosen to locate their offices
at Royal Ridge." Mr. Vanderstraaten continued, "The project offers
technologically advanced building systems, an exceptional location, and open,
flexible floor plans."
    Royal Ridge is a 61-acre masterplanned office campus located on Royal Lane
and Highway 114 at Beltline Road in the Las Colinas submarket of suburban
Dallas. The Royal Ridge campus consists of three existing office buildings,
one building under construction, and land to support the development of four
additional buildings providing an approximately one million square-foot
workplace environment. The project offers immediate access to all major Las
Colinas area freeways, abundant parking and close proximity to DFW airport and
numerous hotels and restaurants. Other customers in the park include Capital
One, Freddie Mac and GTE.
    CarrAmerica Development, Inc., an affiliate of CarrAmerica Realty
Corporation , is one of the largest, most active developers of
office space in the United States today. CarrAmerica Development has completed
the development of more than 18 million square feet of office space for its
own investment and for its customers. Build-to-suit and pre-lease development
projects have been completed recently for customers including the
International Finance Corporation (720,000 square feet in Washington, D.C.),
Gateway (103,000 square feet in San Diego), RadiSys Corporation (50,000 square
feet in Hillsboro, Oregon), Janus (200,000 square feet in Austin, Texas),
Nextel Communications, Inc. (328,000 square feet in Reston, Virginia), Sun
Microsystems (97,000 square feet in Dallas) and Nokia's Headquarters of the
Americas (378,000 square feet in Las Colinas, Texas).