Foulger-Pratt, USAA Real Estate to Break Ground on $200M Tower
- Dec 03, 2019
Foulger-Pratt and USAA Real Estate are about to begin construction on Tysons Central, a $200 million Gensler-designed office tower in the Tysons Corner neighborhood of Northern Virginia. The delivery date has been set for 2021, the companies announced. The 25-story, speculative project is part of the $750 million Tysons Central development west of downtown Washington, D.C., made possible by the extension of the Metro’s Silver Line.
The site is located steps away from the Greensboro metro station, next to The Boro mixed-use development which is currently underway. The new 383,628-square-foot property will feature 9-foot ceilings and column-free floors ranging from 26,000 to 29,000 square feet, a spacious two-story lobby and two elevated terraces on upper portions of the building, along with about 19,000 square feet of rentable retail space.
Other amenities at Tysons Central, a rare new-construction large office block in the area, will include a sky lobby, a fitness center with showers and electric car charging stations. The developers have retained Avison Young for office leasing, with the brokerage team consisting of Principals Dave Millard, Peter Berk, Mike Shuler and Nick Gregorios, as well as Senior Associate Caroline Guidera.
USAA Real Estate partnered with Foulger-Pratt in September 2018, agreeing to provide around 40 percent of the equity needed for the development near the intersection of Leesburg Pike and Chain Bridge Road. The larger Tysons Central mixed-use project spans 5.79 acres and will deliver 1.5 million square feet.
Foulger-Pratt has developed more than 15 million square feet of commercial and multifamily properties, with a focus on transit-oriented schemes. Last year, the company closed two leases at one of the office buildings within Park Potomac, a 585,000-square-foot mixed-use campus Foulger-Pratt is developing in its home community of Potomac, Md.