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Vertex' $2.7B in CRE Value

WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé -- Combined Properties
Greg Trimmer -- JBG SMITH
Alex Nyhan -- First Washington Realty
Vertex' $2.7B in CRE Value
Vertex groundbreakinbg
Can you pick anyone out through the confetti? Vertex Pharmaceuticals is generating $2.7B in real estate activity at Fan Pier with the $900M, 1.1M SF build-to-suit complex that The Fallon Company started building for it in June. Add to that the lease  payments (as much as $1.8B-plus operating costs over 15 years)and it's easy to see why the summer groundbreaking looked and felt more like New Year?s Eve. The life science company's relo from its longtime Cambridge HQ has also infused confidence among other developers who have a few billion dollars more in projects in the works at the Seaport.