WASHINGTON, DC–AvalonBay Communities is taking 73,000 square feet of office space in over three floors of the 4040 Wilson development, a project by The Shooshan Cos. and Brandywine Realty Trust to build a vertical, mixed use building in Ballston. AvalonBay's lease brings the commercial component of the building to 50% preleased. The REIT is taking space on the 8th, 9th and 10th floors and a portion of the 7th floor, leaving approximately 117,000 square feet of office space still available.
Construction on 4040 Wilson will begin in the first quarter of 2018 and AvalonBay will occupy its new space upon delivery in the second quarter of 2020. JLL's Herb Mansinne and Robert VeShancey represented the landlord in this transaction.
Shooshan and Brandywine had been planning to develop this last building in the Liberty Center project for a while. Last year, though, Shooshan decided that instead of a pure office building for the final project in the five-asset complex, it would create a vertically-integrated mixed-use building instead.
The 22-story building will be split into eight floors of office space followed by 12 stories of residential. The first 30,000 square feet will be occupied by Vida Fitness. Other retailers in the building will include three concepts by Chef and Restauranteur Mike Isabella (Kapnos Taverna, Pepita and Yona), Sweetgreen, Taylor Gourmet, Rustico Restaurant and Bar, Buzz Bakery, and Bruegger's Bagels.
A vertically integrated mixed-use building is a new breed of property; there are only a handful of such buildings around the country, including one that Brandywine is developing in Philadelphia. The new structure will have two different entrances and two elevator banks; as well as a lot of work optimizing the redundant systems that such a building requires.
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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.
