ALEXANDRIA, VA—USAA Real Estate Co. is developing a new office building at Hoffman Town Center, on behalf of one of its affiliates. The building is preleased to the National Science Foundation.
Last year the NSF announced it would moving from its current Ballston, VA-based office, to take 660,848 square feet in 2017 at the Hoffman Town Center complex, at a rental rate that is more than 30% below the market rate. It wound up being the largest lease for the year in Northern Virginia, according to Cushman & Wakefield
The Class A office building USAA is developing will be 94% occupied by the NSF for a term of 15 years. The NSF will move in when it delivers in late 2016.
The building will be 704,571 square feet, including 19,437-square feet of retail across 2.03 acres. The project consists of two interconnected towers of 19 and 14 stories, with dual cores off a main entrance lobby at grade level, and 375 parking spaces on three subterranean levels.
The building will seek LEED Silver Commercial Interiors Certification.
Newmark Grubb Knight Frank's Brendan Owen represented the Hoffman family, who sold the land parcel. WDG is desiging the project with Balfour Beatty serving as general contractor.
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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.
