Tech Firm Renews 200K SF Tysons Lease, Plans To Add 300 Jobs
MicroStrategy renewed its 200K SF lease at 1850 Towers Crescent Plaza for 13 years, the company announced Monday. The deal, valued at $150M, gives it the option to extend another five or 10 years, a spokesperson said. Newmark Knight Frank's Junius Tillery, Andrew Roberts and Ed Clark represented MicroStrategy in the deal.
The 13-story building, owned by Quadrangle Development and AEW Capital Management, sits to the south of the Tysons Corner Center Mall, just off the Beltway and near the Tysons Corner Silver Line station. MicroStrategy has been based in Tysons since 1994 and in its current building since 2010. It plans to invest $6M in capital improvements and hire 300 new employees in the Tysons office.
The company, which develops data analytics and visualization tools, was founded in 1989 and launched an initial public offering on the Nasdaq in 1998. Its stock trades at $135/share and the company has a market cap of $1.55B. It has offices in 26 countries with over 2,200 total employees.