TYSONS CORNER, VA-This is getting to be a habit. The Commonwealth of Virginia has lured another corporation to relocate within its borders—Intelsat, one of the world's top providers of satellite services. The company is moving out of the District and to Tysons Tower, a building being developed by Macerich and the Alaska Permanent Fund Corp. It will lease 188,000 square feet, or 37% of the building, with an option to expand to 50%.

The lease was a coup for Virginia, which has become quite skilled at attracting headquarters and major business operations from other states; indeed the new lease was unveiled by Governor Bob McDonnell. A number of officials were on hand for the announcement, in fact, including Gerald L. Gordon, president and CEO of the Fairfax County Economic Development Authority. He noted that Intelsat will broaden Fairfax County’s economic base—during a crucial period.

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"As the Washington region's business community prepares for reductions in federal procurement, Intelsat, with its rich history of technical leadership and commercial innovation, represents an important diversification of and stabilization for the Fairfax County economy in the future," he said.

CBRE helped broker the deal, which was a significant undertaking, said EVP Rob Faktorow, who represented Intelsat. "This was an extremely complex transaction, as we had to move in parallel with the disposition of Intelsat’s 1.1-million-square-foot building in the District while searching for new space," he says.

Tysons Tower is part of a 1.4-million-square-foot expansion underway at Tysons Corner Center. Besides the Tysons Tower office building, there will also be a 17-floor, 300-room Hyatt Regency hotel, a residential tower, and additional retail space. Tysons Tower also bears the distinction of being the only office space in Tysons to directly connected via covered walkway to the future Tysons Corner Metro station. Intelsat will occupy the 14th through 20th floors of Tysons Tower. The office building will include four levels of parking, a restaurant, a two-story lobby and fitness center. It is being designed to LEED Gold standards. Tysons Tower will be located at 7900 Tysons One Place.