After years of government departures from Ballston, one large agency office is staying put for another 10 years thanks to an Arlington County-funded rent decrease.
The Office of Naval Research has renewed its lease at 875 North Randolph St., also known as One Liberty Center, for 10 years, InsideNova reports. The full-building, 315K SF lease will cost the Navy $2.50 per SF less than its previous lease, thanks to an $8M incentive package approved by the Arlington County Board last week.
The incentive package will be paid directly to landlord Kodiak Realty Services in the form of annual, $780K tax abatements. Keeping the agency in Ballston was a priority for Arlington Economic Development officials, InsideNova reports, to maintain the life science and research cluster in the area.
That cluster took a major hit when the National Science Foundation moved from its two-building headquarters to Alexandria, and the federal Fish and Wildlife Service also left the neighborhood.
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