Coworking giant Industrious is adding a location in Tysons, its 18th in the D.C. area.
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The company inked a 31K SF lease at the Macerich-owned Tysons Tower office building next to Tysons Corner Center, it told Bisnow this week.
The location, Industrious' second in McLean, is expected to open in July with 400 office seats. The 22-story property at 7900 Tysons One Place was completed in 2014 and weighs in at just over half a million square feet.
Industrious also has a location at The Boro’s 1660 International Drive, owned by American Real Estate Partners, where it has been since 2019.
“Tysons is an exciting business hub with the density, connectivity and amenities that make it an attractive place to work,” Industrious Head of Real Estate Growth Peri Demestihas said in a news release. “The property offers a strong opportunity to expand our presence in the market and bring Industrious’ hospitality-driven approach to more companies and professionals across Northern Virginia.”
Last quarter, Industrious inked a 33,600 SF lease in downtown D.C., taking the top floors at Rockrose’s office complex at 19th and M streets northwest.
LEASES
Space defense company True Anomaly inked a 70K SF lease at a Crystal City office building undergoing an overhaul. The unicorn company plans to take three floors — two office floors and the ground-floor lobby — at JBG Smith’s 2011 Crystal Drive, it announced this week, noting its proximity to the Pentagon. This is True Anomaly’s first office in the region. Its staff has worked out of an Industrious, a spokesperson told Bisnow. With its new space, the company also announced plans to create more than 400 new jobs over the next few years. JBG’s 445K SF Crystal City building recently underwent a $40M renovation.
MILESTONES
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Hoffman & Associates and its partners held a ceremonial groundbreaking Thursday on the first phase of the Ballston Holiday Inn site redevelopment. The project at 4600 Fairfax Drive is set to deliver a seven-story building with 420 apartment units, with an additional for-sale component planned for the second phase. Hoffman is partnering with Snell Properties on the development, with backing from Mitsui Fudosan America. The project received a $195M financing package in May, with Mitsubishi UFJ Financial Group as the senior lender. The first move-ins are expected in the first quarter of 2029.
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Public officials joined Enterprise Community Development Monday to open a new 151-unit senior housing community in Northeast D.C. Edgewood Commons 435 is part of the Edgewood Commons affordable housing community. The project was financed in December 2023, Bisnow reported at the time, with $123M in permanent funding and $66M in construction-only funding. Units are reserved for residents ages 62 and older who earn up to 50% of the area median income. Ninety-six of the units are supported with additional rental subsidies. D.C. Mayor Muriel Bowser and Ward 5 Councilmember Zachary Parker attended Monday’s opening.
FINANCING
Berkley, California-based nonprofit developer Madrone secured $275M in tax-exempt revenue bonds from D.C. this week for a Judiciary Square office building conversion with a ground-floor grocery store. Madrone plans to turn the vacant 325K SF office building at 600 E St. NW into 415 units with a 25K SF Sprouts Farmers Market, Bisnow first reported this week after the D.C. Council approved the financing. The 1970s-era office building has been vacant for nearly a decade after its only tenant, the Department of Justice, moved to NoMa.
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