Geico has signed a deal to relocate its headquarters out of the half-million-square-foot campus it has owned in Chevy Chase for more than 60 years.

The insurance giant signed a lease to move to Carr Properties’ The Wilson office building at 7272 Wisconsin Ave. near the Bethesda Metro station, Geico told employees in an internal memo that it shared with Bisnow.

Carr Properties confirmed the move, which was first reported by the Washington Business Journal.

“We are thrilled to welcome GEICO to The Wilson and look forward to serving them for years to come,” a Carr spokesperson said in a statement.

Although neither party disclosed how much space Geico will occupy at The Wilson, the move inherently represents a large reduction. The 23-story building is 348K SF in total, and it has other tenants. Meanwhile, Geico’s longtime headquarters at 5260 Western Ave. in Chevy Chase is 514K SF.

The company's memo to employees says the lease came after a “thorough and extensive search” for a new headquarters. It anticipates moving in 2026.

“Our new office will be an environment with the latest infrastructure and facilities, which will include flexible areas to work and layouts to encourage collaboration and interaction among our associates and their teams,” the memo says.

Geico said it prioritized transportation access, local amenities, services and a location near where its headquarters employees live. The memo also says the company is in the process of deciding what to do with its longtime Geico Plaza campus.

“As a responsible member of the Friendship Heights and Chevy Chase community, we are committed to being a good neighbor and working closely with local officials, community leaders and residents to identify and support property redevelopment that benefits and supports revitalization of the area,” the memo says.

Carr Properties delivered The Wilson and Elm, a twin residential tower next door, in 2021.

In 2018, WTTG Fox 5 signed a prelease for 59K SF at the building. Walker & Dunlop also inked a 59K SF lease at the building in 2020, and Carr signed deals with Enviva Partners, ProShares and UBS Group. In January 2024, WeWork reduced its coworking space at the property from 60K SF across three floors to two floors.