Opower Agrees To Stay In Arlington With 63k SF Lease In Courthouse
Opower has agreed to remain in Arlington County for the long-term, albeit in a new set of digs.
The energy software company has signed a lease at Carr Properties’ planned eight-story office building at 2311 Wilson Blvd, which is not too far from its current HQ at 1515 N Courthouse Blvd. Opower will occupy about 63k SF of the planned 175k SF building, the Washington Business Journal reports.
The heavily courted company was also nudged along by a cash incentive package, which was the first of its kind offered by the Arlington government. Opower will receive a $1M grant from the county, which will be channeled through the Arlington Industrial Development Authority, and an additional $1M from the state's Commonwealth’s Opportunity Fund.
The retention of Opower is a big win for the state and county as they attempt to remain competitive with the District for large office tenants. To that end, the jurisdictions of Arlington and Alexandria requested additional incentive programs from the Virginia General Assembly late last year. Last month, Opower extended its existing Courthouse Tower lease through May 2018 while it weighed future options for relocating its HQ, with Uline Arena and The Wharf among the locations under consideration. [WBJ]