Volkswagen Group of America Inc., signed a 196,000-square-foot lease to serve as anchor tenant of Boston Properties’ new 1.1 million-square-foot development in the next phase of Reston Town Center in Reston, Va.
JLL’s Greg Lubar and Steve Spartin represented the tenant in the 20-year lease.
“Once again, this validates Reston Town Center in Fairfax County as the most attractive place for companies to recruit and retain their world-class workforces,” Jake Stroman, Boston Properties’ senior vice president of leasing, told Commercial Observer. “We are also grateful for our partnership with Fannie Mae, represented by Cushman & Wakefield, as they helped facilitate this complex transaction. We are pleased that these great organizations will be calling our next phase of Reston Town Center their home for many, many years to come.”
Volkswagen will move from its current headquarters at 2200 Ferdinand Porsche Drive in Herndon, Va.
“A company focused on the future of mobility needs a future-proof workspace to match those ambitions,” Scott Keogh, Volkswagen Group of America’s president and CEO, said in a statement. “This space is designed from the start to be efficient, collaborative and bring our team under one roof so we can keep and attract top talent.”
Situated in the heart of Northern Virginia, Reston Town Center is home to more than 3 million square feet of Class A office space, and offers approximately 50 retailers, 30 restaurants and 2,000 residential homes.
The new extension will include that two-tower, 1.1 million-square-foot office development informally referred to as Reston Next, plus retail space, a hotel and residential buildings. The property will also be adjacent to the Reston Town Center Station on the Metro’s Silver Line.
With the signing, the Reston project is currently 85 percent pre-leased. Fannie Mae is also set to move into the new building when completed.