By Keith Loria
Appian, a software company currently based in Reston, Va., has signed a 200,000-square-foot lease to move its headquarters to Valo Park. The 785,000-square-foot office campus in nearby Tysons is owned by a joint venture between Tamares and Ilmarinen Mutual Pension Insurance Co. of Finland. Appian will serve as the property’s anchor tenant.
Valo Park, located at 7950 Jones Branch Dr., is the former home of Gannett. The joint venture purchased the property three years ago with plans to transform it into a state-of-the-art multi-tenant corporate campus. The building includes amenities such as conference facilities, a 20,000-square-foot fitness facility, sport courts and a 300-seat auditorium. Redesigned by renowned architect Kohn Pedersen Fox, the building has a freshly renovated lobby restaurant and coffee bar, as well as a full-service eatery and executive dining areas available. Additionally, the 16-acre campus encompasses a lake, jogging trails, gardens, outdoor picnic areas and world-class art installations.
“Appian’s lease at Valo Park validates Tamares’ commitment to significant upgrades at the property in order to meet the high standards of today’s modern companies,” Jeff Roman, CBRE’s senior vice president, told Commercial Property Executive. “It’s our strong belief that other like-minded companies that demand top quality environments for their employees will continue to gravitate to Tysons and higher-end properties such as Valo Park. The interest in our remaining space at Valo Park is strong.”
CBRE Senior Vice Presidents Erik McLaughlin and Jeff Roman represented the tenants in the transaction.
Tysons is up and coming
Tysons is becoming a hotbed of activity in Northern Virginia with new offices, residences and restaurants opening at a strong pace. In the summer of 2019, Hogan Lovells will be moving its Northern Virginia office to Boro Tower, a 20-story Tysons trophy office tower currently under construction in the area.
Earlier this month, the Meridian Group sold a majority interest in Boro Station, a three-building office complex to MetLife Investment Management, recapitalizing the property in a joint venture partnership. Back in February, Young Group Inc. acquired a 79,880-square-foot vacant Tysons office building as well.
Image courtesy of Tamares