IT Firm Renews DC-Area Office Lease

The company is planning to invest $6 million to improve its space in the nearly 300,000-square-foot Class A office tower.

1850 Towers Crescent Plaza in Tysons, Va.
1850 Towers Crescent Plaza in Tysons, Va.

MicroStrategy, an IT and data analytics service provider, has renewed its lease at one of Quadrangle Development’s Towers Crescent Class A office towers in suburban Washington, D.C. The firm has occupied 200,000 square feet in the building since 2010, according to Virginia Business. MicroStrategy plans to upgrade its space with approximately $6 million in improvements and hire 300 new employees over the coming years.

Located at 1850 Towers Crescent Plaza in Tysons, Va., the 13-story, 295,031-square-foot building is situated next to the Tysons Corner Center, a 2 million-square-foot regional shopping mall at the corner of Interstate 495 and Leesburg Pike. WMATA operates a Silver Line metro station a short walk north of the tower, and the Tysons Corner Transit Center is next door, offering multiple public transportation options for employees. The ground floor of the building contains 15,170 square feet of retail space, partially occupied by the Bank of Georgetown.

“To facilitate employee interaction, we are redesigning numerous workspaces, adding café and dining spaces and upgrading our gym,” said Michael Saylor, CEO of MicroStrategy, in a prepared statement. “We will also be adding a large conference center that will be a draw for our employees, customers and partners.”

Image courtesy of Yardi Matrix