Two office buildings on the Fair Oaks Mall campus have changed hands in a $12.5 million deal that their new owners hope will jumpstart a revitalization.
The commercial real estate firm Silverline Equities announced Tuesday (June 16) that it has acquired Greenwood Plaza and Oakwood Center buildings at 12015 and 11781 Route 50.
Further reductions in Fairfax County’s office building inventory are needed, but the commercial office sector is not a dinosaur destined for extinction, industry officials say.
“We’re seeing our existing tenants … beginning to need more space,” Barry Bass, a cofounder of the real estate investment firm Silverline Equities, told the Board of Supervisors’ Council for Economic Opportunity on Tuesday (June 16).
The repurposing of Inova Health System’s former administrative headquarters in Merrifield is seeing mixed success nearly three years after it was approved by the Fairfax County Board of Supervisors.
While construction continues on a conversion of one office building at 2990 Telestar Court into affordable housing, the live/work units planned for an adjacent building at 8110 Gatehouse Road are no longer moving forward, Providence District Supervisor Dalia Palchik shared at the board’s meeting on Tuesday, June 9.
Interior demolition work is underway in the former Matchbox suite at Reston Station, but the new occupant won’t be the community-serving retail local residents likely hoped to see.
The approximately 5,500-square-foot space on the ground floor of the office building at 1900 Reston Metro Plaza is being incorporated into the future headquarters of engineering and technology contractor Amentum, a spokesperson for property owner and developer Comstock Companies says.
Fairfax County is taking a closer look at the older office sites in Tysons to determine whether they might be more suitable now for alternative uses.
The county launched a planning study last week that will evaluate the potential for parcels currently designated as office in the Tysons Comprehensive Plan to support future residential or mixed-use development.
A plan to transform the Tysons Plaza office campus into a mixed-use complex where people would live and shop in addition to working is starting to solidify.
Developer JBG Smith, which acquired the property at 1410, 1420 and 1430 Spring Hill Road last year, submitted a rezoning application to Fairfax County yesterday (Monday) that proposes replacing the easternmost of the three office buildings with a mid-rise apartment building.
Just a few years after approving a new comprehensive plan for Reston, Fairfax County officials are taking a closer look at the future of development in a swath of Reston East currently dominated by older office buildings.
The Fairfax County Board of Supervisors directed staff on April 14 to expand a planning study that initially looked at individual office properties south of the Dulles Toll Road to instead include an entire subdistrict from Upper Lake Drive to Hunter Mill Road.
An office complex in Tysons that currently hosts some data centers could become exclusively devoted to processing digital data, if its current owner secures Fairfax County’s approval.
Serverfarm, a California-based operator that appears to be making its first foray into the D.C. region, applied earlier this year for a special exception that would allow it to replace the existing, “groaning” office buildings at 7990 and 7980 Quantum Drive with a “completely modernized” data center.
Fairfax County staff are prepared to allow housing on an aging office property near the Wiehle Metro station in Reston with the expectation that the future developer will also deliver some transportation improvements.
The county’s planning commission will hold a public hearing tonight (Wednesday) on a proposed comprehensive plan amendment that would pave the way for Lofts at Reston Station builder Pulte Group to redevelop three low-lying office buildings at 1810, 1825 and 1850 Samuel Morse Drive with stacked townhouses and condominiums.
New buildings are still going up in Tysons, as anyone who has passed the Indigo at McLean Station, Exchange at Spring Hill and Flats at Tysons construction sites can attest.
But 16 years into Fairfax County’s plan to remake Tysons into a downtown community by 2050, developers behind some of the area’s more established neighborhoods have started to focus less on expanding their properties than on bolstering what they’ve already built.
