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NoVa Landlords Relieved As TSA Takes Victory Center

ALEXANDRIA, VA—Empty for several years, the Victor Center Building has been a repeat competitor in several deals and was thought to be keeping rates down in bids. Now that we know the total value of the lease is $292.5 million, we can see why that was suspected.

By Erika Morphy | Updated on August 13, 2015

ALEXANDRIA, VA—The US General Services Administration finally selected the new headquarters for the Transportation Security Administration: it is taking 625,000 square feet at the Victory Center Building, an empty office located at 5001 Eisenhower Ave. A deal of this magnitude naturally will disappoint some and delight others. One group that one wouldn’t expect to fall in the latter, however, are property owners in the submarket that have had to compete against the low rates that Victory Center was presumably offering in various bids.

Let’s start at the beginning.

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