Global Construction Firm Signs Office Lease In Ballston
Gilbane Building Co. is moving its office within Arlington's Ballston neighborhood while adding to its footprint.
The construction company signed a lease at Jamestown’s Ballston Exchange — a pair of office towers totaling 783K SF on Wilson Boulevard, the landlord announced this week. The landlord said the lease totals 27K SF.
A Gilbane spokesperson told Bisnow the lease's usable square footage is 22K SF, and that represents an increase from its 15K SF space at 1100 North Glebe Road, owned by Monday Properties. Gilbane plans to make the move in 2026.
Headquartered in Providence, Rhode Island, Gilbane has over 3,000 employees in more than 45 offices across the U.S. and in five other countries, according to its website. Its mid-Atlantic team is based in the Ballston office.
"This move will increase our overall footprint while consolidating our operations onto a single floor, creating a more collaborative experience for employees and visitors,” Gilbane Vice President Tyler Swartzwelder said in a release.
He added that Ballston Exchange’s proximity to the neighborhood's Metro station provides the company and its partners with better connectivity in the region.
Jamestown acquired the two Ballston Exchange properties at 4121 and 4201 Wilson Blvd. separately in 2015 for a combined $300M. It bought them after anchor tenant National Science Foundation announced it would leave for a new Alexandria office, and Jamestown then launched a $140M repositioning effort to help lease it back up.
The property’s office tenants now include The Agricultural Retailers Association, Booz Allen Hamilton and The Insurance Institute for Highway Safety and Amentum, and its retail tenants include Orange Theory Fitness, CorePower Yoga, El Rey, Grazie Grazie, SWTHZ, Tend, Chopt and Cava, per the release.
It is also across the street from Ballston Quarter, Brookfield's redeveloped mall that features a Punch Bowl Social, Regal movie theater, Onelife Fitness and a roster of restaurants and retailers.
"Ballston Exchange continues to attract industry leaders like Gilbane Building which recognize the advantage provided by the property's transit-accessible location and comprehensive amenities," Jamestown Senior Vice President Rameez Munawar said in the release.
Ballston’s 7.3M SF of office space has a 23.7% vacancy rate, according to CBRE’s first-quarter report. It recorded 40K SF of positive net absorption in the first three months of this year.
