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Jamestown has landed its first new office tenant at Ballston Exchange, its $140M redevelopment of the former National Science Foundation headquarters in Ballston.
Industrious, a New York-based coworking provider charting a major D.C. expansion, signed a 10-year lease for 25K SF on the third floor of 4201 Wilson Blvd., Jamestown announced Tuesday.
The coworking company plans to open the space, its third D.C.-area location, in early 2019. Industrious last month signed its second D.C.-area deal in Bethesda, after opening in Thomas Circle in April. Its CEO told Bisnow he plans to have eight D.C.-area locations by the end of 2019. It is also the third deal Industrious has done with Jamestown, following leases in Atlanta and San Francisco.
Jamestown bought the two Ballston buildings, then named Stafford Place I and II, for $300M in 2015, after the NSF announced its planned move to Alexandria. The Atlanta-based, German-backed firm last year announced plans for a $140M renovation of the 776K SF property, and it rebranded the buildings as Ballston Exchange. In March, Jamestown announced it signed four new retail tenants: Shake Shack, We the Pizza, Philz Coffee and Cava. It plans to complete the renovation later this year.
"The addition of Industrious shows our commitment to providing Ballston residents, workers and commuters alike with premier business and lifestyle opportunities," Jamestown President Michael Phillips said in a release.
The property sits across the street from Ballston Quarter, where Forest City has signed a host of new dining options and experiential retail tenants expected to open this fall. It is also two blocks from Shooshan Cos.' Liberty Center complex, where coworking provider TechSpace signed on for its first D.C.-area location in October.
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