WPC Begins $7M Renovation of VA Office Asset
- Mar 23, 2018
Washington Property Co. has begun the $7 million renovation of its office building in Falls Church, Va. The Class A building was the former headquarters of Computer Sciences Corp., and is now available for lease. WPC recently purchased the asset from CSC in March of 2017 for $7.2 million.
The 12,000-square-foot property is located at 3160 Fairview Park Drive, just off the Washington Beltway. Scheduled for completion in June, the renovation will include a new tenant-only fitness center with showers and locker rooms, tenant collaboration area, a state-of-the-art conference center and flexible lounge seating. The reconfigured lobby will feature a glass canopy, new contemporary finishes and a covered walkway leading to the 400-space parking garage. The fitness center will offer a high-end cardio studio with spin bikes, as well as multiple flat-screen TVs. All building systems are being replaced and bathrooms are being renovated. Additional work includes garage repairs and improvements, landscaping and hardscaping.
“We took advantage of an opportunity to acquire and renovate an existing office building in a great location, and offer Class A space at competitive rental rates,” said Andy Eshelman, principal of acquisitions for WPC, in prepared remarks. “When Fairview Park was first developed in the 1980s, a main selling point was its easy access to I-495. Now this office park offers proximity to the popular Mosaic District, Metrorail’s Dunn Loring-Merrifield station on the Silver and Orange Lines, and the rapidly redeveloping ‘edge city’ of Tysons. With its serene surroundings and modern fitness center, 3160 Fairview Park provides an ideal business environment for today’s growing companies and their health-conscious employees.”
3160 Fairview Park is situated on a six-acre site within the 220-acre Fairview Park complex, where tenants have access to three lakes, cascading waterfalls, a koi pond and 2.5 miles of jogging trails. The Fairview Park Marriott Hotel and 2941 are within walking distance, while a shuttle provides free transportation to and from the nearby Mosaic District.
Image courtesy of WPC