Shortly after buying its headquarters building in Alexandria, national security contractor Systems Planning & Analysis announced a major expansion in the region.
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The company announced Thursday it would invest $46.9M and create more than 1,200 jobs in Northern Virginia — 714 jobs in Fairfax County and 494 in Alexandria.
SPA said it would expand its headquarters operations in Alexandria but didn't detail how many square feet of office it would add. The company is headquartered at 2001 N. Beauregard Road, a 240K SF building it previously leased from Aztec Fund Holding before acquiring it this summer for $29.3M, Bisnow first reported last week.
The contractor also has offices at 14399 Penrose Place in Chantilly and 8211 Terminal Road in Lorton, and it may renovate or expand all three offices, the Washington Business Journal reported Thursday.
The Fairfax County Economic Development Authority said in a release that SPA is "actively exploring new locations to accommodate its expanding workforce."
SALES
D.C. is preparing to acquire a 50K SF former office building near Union Station that is being converted to a homeless shelter. The District plans to pay $44.4M to buy 25 E St. NW, the Washington Business Journal reported. The building last sold for $23.8M in 2018 to Jetset Hospitality, which had planned to convert it to a hotel. But that project fell through, and D.C. in 2023 announced plans to open a 190-bed homeless shelter in the building.
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After Stonebridge and Bernstein announced last week that they acquired the 1990 K St. NW office building with plans to tear it down and build 435 apartments, the sale price has been revealed. D.C. deed records posted Wednesday show the joint venture paid $27.5M for the property, which had last sold in 2001 for $55.8M.
MILESTONES
Mayor Muriel Bowser joined developer H2 Communities on Friday to celebrate the opening of a 20-unit townhouse project near the Anacostia Metro station. The Ana Townhomes for-sale housing project includes six affordable units reserved for those making between 50% and 80% of the median family income. The land is owned by D.C., which selected the team to develop the project in 2019. H2 received $1.6M from the D.C. Housing Finance Agency for The Ana.
PERSONNEL
The former chief operating officer of the Federal Housing Finance Agency has joined the District's housing finance arm. The D.C. Housing Finance Agency hired Katrina Jones as its new chief administrative officer, it announced Thursday. A native Washingtonian, Jones spent 16 years at the FHFA, is board president of D.C.-based Wheeler Creek Community Development Corp., and has served as a commissioner for the D.C. Housing Authority.
The FHFA declined to comment on Jones' departure. The agency has undergone a shake-up this year under the leadership of Trump-appointed Director Bill Pulte, who has also instituted executive changes at government-sponsored housing agencies Fannie Mae and Freddie Mac.
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Monumental Sports & Entertainment has hired a new chief financial officer, Steven Miller, who has spent the last 14 years as CFO of eyeglass retailer Warby Parker. He replaces longtime CFO Peter Biché, who Monumental previously announced is transitioning to senior adviser. Monumental, the owner of the Capitals, Wizards and Mystics professional sports teams, is working on an $800M renovation of its Capital One Arena in Chinatown.
