FAIRFAX, VAThePeterson Companies and Brandywine RealtyTrust have formed a 50/50 joint venture to develop a300,000-square foot mixed-use town center development in Herndon,VA. Peterson will be the lead developer for theretail and entertainment components that will serve as an amenitybase for BrandywineRealty Trust'sexisting 1.86 million square feet of office buildings and thesurrounding community. Brandywine originallypurchased the land in 2012. The joint venture will seek a rezoningof the property and anticipates commencement of the development in2016.

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“This is arguably one of the best mixed-use developmentopportunities in the Northern Virginia market and it is exactly thetype of project that we excel at creating,” says Taylor O.Chess, president of Retail for PetersonCompanies. “The new retail, dining and entertainmentofferings will also provide an attractive amenity base for thethousands of employees and residents in the surrounding officeparks and neighborhoods.”

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The development is envisioned as a mixed-use town center that,at completion, will feature residential units perched abovehigh-quality retail and restaurants, entertainment uses which couldinclude a multi- screen movie theater or other types of destinationentertainment and high-end amenities including a lifestyle fitnesscenter. Pedestrian friendly streets, outdoor seating and year-roundevents and programming will create a true sense of place.

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“We are seeking maximum value on this land holding whileenhancing our customer experience,” says Mike Cooper, senior vicepresident and senior managing director ofBrandywine's Metro DC Region. “We are delighted tobring the creativity and experience of the PetersonCompanies to this project and look forward to workingtogether to create a high-quality, mixed-use development to addvalue and provide an ongoing competitive advantage for us.”

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].