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Tysons has landed the headquarters of a consulting firm after competing with D.C. and Maryland, another win for Northern Virginia's office market.
Guidehouse announced Monday it would invest $12.7M to establish a new headquarters at 1676 International Drive, where it would ultimately bring more than 1,500 employees. The company is initially occupying 75K SF in the building, according to a Guidehouse spokesperson.
JLL's David Goldstein and Brian Connolly represented the building owner, Brandywine Realty Trust, in the deal. The building previously housed KPMG before it moved to a nearby mixed-use project The Boro. Brandywine had already filled a piece of the accounting firm's vacancy, landing a 15K SF lease with BBB National Programs at the building in November.
Guidehouse was previously the D.C.-based public sector arm of PwC, which spun it off in 2018 as it merged with Chicago-based Veritas Capital. The merged entity kept the Guidehouse name.
The company has an existing office at 2941 Fairview Park Drive in Falls Church and two locations in the District, an office at 1200 19th St. NW and an "innovation lab" at 1730 Pennsylvania Ave. NW. A Guidehouse spokesperson said it is keeping its D.C. and Falls Church locations.
The Guidehouse spokesperson said the deal reflects the company's growth during the coronavirus pandemic, and it reflects its shift from traditional offices to "collaboration centers."
“We take pride in our role as a responsible corporate citizen and are tremendously pleased to invest in and build a deeper rapport with the Fairfax County business community," Guidehouse CEO Scott McIntyre said in a release.
A separate release from Fairfax County Economic Development Authority said that Virginia successfully competed with Maryland and D.C. for the project. It said the headquarters location will house more than 1,550 employees at capacity and will create more than 900 new jobs.
The Northern Virginia office market has struggled with negative absorption and rising vacancy during the pandemic, but it has continued to land major office tenants, with Microsoft's 400K SF Reston expansion representing the largest lease in the region last year.
“The Guidehouse leadership team had any number of choices to consider for the firm’s global headquarters, so it speaks volumes that they chose a Fairfax County location,” FCEDA CEO Victor Hoskins said in a release. “A headquarters in Tysons puts the company in the center of the largest business hub in the D.C. region and a talent pool that will be able to enjoy the growing number of amenities in the area.”
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