Giesecke+Devrient America is poised to invest $13M to relocate its Loudoun County footprint, which serves as the Munich-based company’s U.S. headquarters, and expand its local workforce.
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The company has plans to move from Dulles to Ashburn, taking 27K SF of office and 65K SF of flex industrial space nearby, a Loudoun County spokesperson told Bisnow in an email. The company's move will expand its existing office space, but its overall footprint will reduce from 110K SF to 92K SF, the spokesperson said.
The move is poised to add 42 new positions to the 144-person full-time employee base, according to Loudoun County Economic Development, which announced the plans this week.
The move and workforce expansion are subject to approval from the Loudoun County Board of Supervisors, which is set to vote on Tuesday.
“G+D has been part of the Northern Virginia business community for more than 35 years, and this expansion reflects our continued commitment to the region,” G+D Currency Technology President Jim Petit said in the company's release. “Loudoun County gives us an ideal location close to Washington, D.C., our customers and key government partners, while providing the environment we need to continue growing our business and serving customers across the United States.”
G+D was founded in 1852 and has a global workforce of 14,500.
FINANCING
A 122-unit apartment building in Columbia Heights is primed for an $82M renovation after receiving financing. D.C.’s Housing Finance Agency issued $23.3M in tax-exempt bonds and underwrote $32.7M in federal low-income housing tax credits for the renovation of Trinity Towers, DCHFA announced this week. The rest of the funding is coming from PNC Bank and the Freddie Mac tax-exempt loan program, a spokesperson told Bisnow. Standard Communities and Housing for All Inc. are the developers on the renovation, set to modernize and preserve the property. Units will be reserved for residents earning 30%, 50% and 60% or less of the area median income.
LEASES
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A Chevy Chase, Maryland, mixed-use development is getting two culinary concepts next quarter. Metropolitan Hospitality Group is bringing a new location of American eatery Open Road and an all-day cafe and wine bar called Cove to The Collection at Chevy Chase, owner CCLC announced this week. The Collection, located along Wisconsin Avenue, houses 394K SF of retail, dining, office and outdoor space. Metropolitan Hospitality Group is also behind Circa, Open Road, Él Bebe, TRIO Grill, SALT, Heirloom and Open Road Distilling Co.
PERSONNEL
National Real Estate Advisors is getting a new CEO for the first time in a quarter century. The investment manager with a development subsidiary is bringing in its current chief investment officer and executive vice president, Kevin Verdi, to head the company, as President and CEO Jeffrey Kanne retires. Verdi will take over in January 2027, and Kanne will take on a role as special adviser to the firm. Verdi has been with National since its inception in 2010 and with its predecessor, NEBF Real Estate, since 2000, a spokesperson for National told Bisnow. He has been National's CIO since 2019.
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A new nonprofit aimed at bringing business to Virginia’s National Landing neighborhood has its first CEO. Michael Manuccia is taking on the head role for National Innovation Quarter, the 501(c)(6) announced this week. A release says Manuccia has “more than 15 years of experience building and scaling mission-driven technology organizations in Silicon Valley, London, and Arlington.” National IQ was founded in February by Amazon, Northrop Grumman, SAIC, Virginia Innovation Partnership Corp., Virginia Tech, Arlington Economic Development, Alexandria Economic Development Partnership, JBG Smith and the National Landing Business Improvement District.
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