First Investors Corp. of New York City has moved its local office to 1916 Wilson Blvd. in Arlington. The street address was stated incorrectly Monday.

IBM has signed a five-year lease for 82,355 square feet of space at Building One of the Shady Grove Executive Center in Rockville. IBM's newly created academic information services group and units of the national accounts division will occupy three floors in the four-story building.

Building One, which contains 115,000 square feet of space, is the first of seven buildings planned for the 45-acre office park at the intersection of Interstate 270 and Shady Grove Road. The $80-million center is being developed, leased and managed by Spaulding & Slye Co. through a joint venture with Copley Real Estate Advisors.

Other developments in commercial realty in the metropolitan area:

Ground has been broken on the Smithsonian Institution Quadrangle project, next to the Smithsonian Castle. The complex will house a center for African, Near Eastern and Asian cultures on a four-acre site. About 96 percent of the complex will be located on three levels undergroud. Two 90-by-60-foot pavilions, a glass-enclosed entrance kiosk, a garden and a set of gates will be the only elements at street level. Blake Construction Co. Inc. of Washington was the low bidder on the $39.3 million project.

First Investors Corp. of New York City has moved its local office from Rosslyn to 2,000 square feet of space at 1960 Wilson Blvd. in Arlington.