Office Of Naval Research Renews 310K SF HQ In Ballston
After years of government departures from Ballston, one large agency office is staying put for another 10 years thanks to an Arlington County-funded rent decrease.
The Office of Naval Research has renewed its lease at 875 North Randolph St., also known as One Liberty Center, for 10 years, InsideNova reports. The full-building, 315K SF lease will cost the Navy $2.50 per SF less than its previous lease, thanks to an $8M incentive package approved by the Arlington County Board last week.
The incentive package will be paid directly to landlord Kodiak Realty Services in the form of annual, $780K tax abatements. Keeping the agency in Ballston was a priority for Arlington Economic Development officials, InsideNova reports, to maintain the life science and research cluster in the area.
That cluster took a major hit when the National Science Foundation moved from its two-building headquarters to Alexandria, and the federal Fish and Wildlife Service also left the neighborhood.