Located at 7930 Jones Branch Dr., Park Place II is next to the Hilton McLean Tysons Corner, one of the factors in its decision, Groh tells GlobeSt.com. It also liked the Gold LEED certification that Park Place has achieved, as well as its proximity to the metro and HOV lanes. The building as about 123,000 square feet left to rent, he says.
Hilton's site selection decision from start to finish was on the fast track. The company only announced it would be relocating its headquarters from Los Angeles to the DC area at the end of January. It quickly settled on Virginia, reportedly in part because of the incentives the state offered it. Hilton will move in Q3 2009.
Although the two states and the District hotly competed for the assignment, Hilton's move is viewed as a win for the area in general and the local hospitality industry in particular. Marriott has been based here for decades, as well as Choice Hotels International, which owns the Comfort Inns and Econo Lodges flags. Other locally-based hotel groups include RLJ Development, Interstate Hotels & Resorts and DiamondRock Hospitality.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
