Nestlé Looking At NoVa For US HQ

1812 North Moore Rosslyn

The DC region's tallest building, 1812 North Moore St in Rosslyn, has sat vacant since Monday Properties delivered it in 2013, but the major office lease it has been seeking might be just around the corner.

Nestlé is considering moving its US HQ to NoVa, and two of the buildings in consideration are 1812 North Moore and 1900 Reston Metro Plaza, part of Comstock's Reston Station, the Washington Business Journal reports.

CBRE is helping the company in its search for 150k SF to 200k SF of office space. The Switzerland-based company's current US HQ is in Glendale, CA, where its 380k SF lease is set to expire in the next five years. The food and beverage maker has more than 100 locations in the US and employs more than 50,000 people.

Landing Nestlé would be a huge win not just for Monday Properties or Comstock, but for NoVa's office market, which sits at roughly 20% vacant. It is likely the state would provide a major incentive package to the company, a tactic jurisdictions have increasingly used to land big office tenants, and Virginia Gov. Terry McAuliffe has been at the forefront.

Marriott is receiving $44M in incentives from Montgomery County and the State of Maryland to keep its corporate HQ in Bethesda. The Advisory Board Co received a $60M tax break from Washington, DC, to stay in the District. The healthcare consulting firm had considered 1812 North Moore before choosing Douglas Development and Brookfield's 655 New York Ave development. [WBJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

University City Office Market Improves Despite Slow Quarter In Philly

DCHA Taps Executive Director: The D.C. Deal Sheet

The Multifamily Boom Is Putting HVAC Decisions Back In The Spotlight

High-Flying Midtown Office Market Back To Pre-Pandemic Health

Austin's Office Slump Is Fueling Mixed‑Use Projects

Gould Starts $25M East End Office Renovation, Seeks Tenants For Top Floors

Morningstar To Relocate Global HQ To Renovated Thompson Center

J.P. Morgan Snags £1B Loan For Spitalfields Office Redevelopment

Elme Finishes Liquidating With 3 D.C.-Area Sales

Hudson Pacific Sells San Francisco Office Buildings

NYU's Real Estate Institute To Vacate Longtime Midtown Home

What It Takes To Build For A Thriving Prince William County