Alexandria's Largest Office Tenant Considers Shrinking 2.4M SF Footprint
One of the largest office tenants in the D.C. region, the U.S. Patent and Trademark Office, is considering shrinking its footprint.
The PTO is working with the General Services Administration on a plan to shed excess space in Northern Virginia as more employees continue to work remotely, the Washington Business Journal reports.
The plan could include reducing the footprint at its headquarters in Alexandria, where it leases 2.4M SF from LCOR on Eisenhower Avenue. That lease expires in August 2024, the WBJ reported. LCOR didn't respond to requests for comment.
The agency also leases 191K SF from Easterly Government Properties in Arlington's Shirlington neighborhood, a deal it renewed early last year through 2035. It is considering options including giving part of its spaces to other federal agencies or putting them on the sublease market, the WBJ reported.
The PTO moved its headquarters from Arlington to Alexandria in 2003. With roughly 10,000 employees, the headquarters has helped spur a host of development along Alexandria's Eisenhower Avenue corridor, including Stonebridge's 1M SF Carlyle Crossing project anchored by Wegmans.