McLean, Virginia, June 5, 2006 - Lerner Enterprises of North Bethesda, Maryland, one of Washington, D.C.'s premier real estate developers, has announced that it will develop an 18-story 472,000 square foot "state of the art" office tower at 1775 Tysons Boulevard in The Corporate Office Centre at Tysons II. Construction will begin next summer and the building will be delivered in the Summer of 2009. It will be the fifth office building at the award-winning five million square foot, mixed-use complex located at Route 123 and Tysons Boulevard in McLean, Fairfax County, Virginia.
The architect for the building is Kohn Pedersen Fox Associates, the internationally acclaimed architectural firm established in 1976. KPF is active in over 30 countries around the globe and has offices in New York and London. The firm has a diverse portfolio of building types and has extensive experience in high-rise office buildings for corporate clients and speculative developers.
The new building is conceived as the next generation of The Corporate Office Centre at Tysons II. This development recognizes Lerner's pivotal role in redirecting future growth in the Tysons Corner area away from urban sprawl where cars and parking dominate the aesthetics to one of urban centers where pedestrian amenities and public spaces unite to form a sense of place. By developing a dramatic and elegant enclosed pedestrian bridge system across Tysons Boulevard, the new addition will continue to create a synergistic environment that positively connects to the existing Tysons II development and extensive amenity base including The Ritz-Carlton, Palm Restaurant and the wide array of shops and restaurants of the adjacent Galleria.
The building's composition is organized to present a tall tower elevation to Galleria Drive and a long elegant façade to Tysons Boulevard. Typical floors will be approximately 29,000 square feet of highly efficient space providing exceptional views. In addition, the average floor to ceiling heights will be nine (9) feet and with the ability to expand to ten (10) feet along the window lines. Building amenities will include an on-site concierge, 24-hour security, a state of the art fitness center, white tablecloth restaurant and café, as well as banking and other retail services.
The heart of the complex, a plaza like courtyard, organizes the entries for the office tower, retail and parking facilities. Landscaping, sculpture, and architectural paving will enhance the formal entry court, which is conceived as an extension of the building's elegant lobby. Within the building, state-of-the-art elevators, mechanical systems and high performance glass all contribute to a design that achieves 'Energy Star's highest rating. Tenants will enjoy a modern work place in a LEED (Leadership in Energy & Environmental Design) "certified" building conforming to "Green" building standards for resource and energy conservation, as well as a healthy indoor and outdoor environment.
"We are excited to begin the new tower at Tysons II as there continues to be excellent demand from marketplace for this type of trophy product", said Mark D. Lerner, a Principal of Lerner Enterprises. "While we will proceed with this building on a speculative basis as we did on the last four buildings at Tysons II, we have always had significant pre-leasing in these buildings prior to their completion. Tysons II, with over 1.4 million square feet of existing buildings, has less than a one percent (1%) vacancy rate, clearly one of the strongest in the Washington area."
Office leasing will be provided by Diamond Property Company of McLean, Virginia. Retail leasing and property management services will be provided by Lerner Corporation, an affiliate of Lerner Enterprises.
The mixed-use Tysons II development located at the intersection of Route 123, International Drive and Tysons Boulevard to date includes:
An additional 2.5 million square feet, including five more office buildings and a high-rise/luxury condominium tower can still be developed on the site.
Lerner Enterprises, founded by Theodore N. Lerner in 1952, is the largest private real estate developer in the Washington, D. C. metropolitan area. The company is involved in all phases of office, retail, hotel, sports & entertainment and residential real estate including planning, development, construction, leasing, asset and property management. Among its extensive office portfolio is The Corporate Office Park at Dulles Town Center, Flint Hill Office Park, 7799 Leesburg Pike, Vintage Park, Beaumeade Corporate Park, Parkview Executive Center and 400 Army Navy Drive in Northern Virginia; White Flint North, Fallsgrove Village Office Center and Towne Plaza in suburban Maryland; Washington Square at 1050 Connecticut Avenue and 1133 Connecticut Avenue in downtown Washington, D. C.
Lerner is also a partner in Chelsea Piers, a 1.2 million square foot sports, entertainment and office complex located on the Hudson River from West 17th to West 23rd Streets in New York City.
In addition to 1775 Tysons Boulevard, Lerner's current projects include:
Additional information on The Corporate Office Centre at Tysons II and Lerner Enterprises is available at Tysons2.com.