Virginia Offers 26-Acre CIT Campus, Pitched For HQ2, For Sale
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A 26-acre Northern Virginia site with over 3M SF of development potential is back on the market, four months after losing out on Amazon HQ2.
Sitting on the border of Loudoun County and Fairfax County, the property was part of a joint bid the counties put forward to land Amazon HQ2. The e-commerce giant instead opted for nearby Arlington County. The CIT campus was also reported to be in the mix for Apple's new 4M SF office, but the tech company chose Austin, Texas.
Despite losing out on Amazon, Fairfax County's Board of Supervisors in December voted to rezone the site to allow up to 3.8M SF of office space, plus hotel and retail uses. The 26-acre site is currently occupied by a 149K SF office complex, constructed in 1989.
Virginia had previously retained Divaris to market the CIT campus in August 2017. But when the Amazon HQ2 search was announced the following month, it took the property off the market.
Divaris is now marketing the property's location in an opportunity zone, allowing potential investors to take advantage of the new federal program's tax benefits. The site is next to the future Innovation Station Metro stop, slated to open next year with the completion of the Silver Line's second phase.