AvalonBay Signs 73 KSF Lease in Arlington, VA
- Dec 08, 2017
AvalonBay Communities will occupy more than three floors of The Shooshan Co. and Brandywine Realty Trust’s 4040 Wilson. The mixed-use office and residential building represents the joint venture’s final phase of its Liberty Center development. Together with VIDA Fitness, AvalonBay’s decision brings the commercial component to 50 percent pre-leased.
The building is situated at 4040 Wilson Blvd. in Arlington, Va., across the street from Forest City’s redevelopment of Ballston Mall. The 22-story tower occupies a total of 1.3 acres, with 34,000 square feet dedicated to retail and 213,000 square feet to residential space. It will comprise 244 units. Multiple upscale restaurants are situated within and around the Liberty Center development.
Residents and commercial tenants will have access to the multiple shops in the vicinity. The Ballston-MU subway station is two blocks away, with Route 120 and interstates 66 and 495 all nearby. Central Washington, D.C. can be reached in about 20 minutes by car, or half an hour via the Orange or Silver metro lines.
Construction at 4040 Wilson will begin in the first quarter of 2018, with Clark Construction acting as general contractor. The building will seek LEED Gold certification and completion is expected in the second quarter of 2020. Leasing operations are managed by JLL’s Herb Mansinne and Robert VeShancey.
“AvalonBay’s decision to relocate its headquarters to what will be D.C.’s first vertical mixed-use development is a testament not only to the resurgent Ballston submarket, but to how forward-thinking companies are embracing community and innovative, smart and sustainable workplace design,” said Jerry Sweeney, president & CEO of Brandywine Realty Trust, in prepared remarks. Brandywine also recently relocated its corporate headquarters to FMC Tower at Cira Centre South in Philadelphia.
Image courtesy of JLL