CEB Takes 350 KSF at JBG’s Central Place in Rosslyn; 2018 Move is Eyed
By Adrian Maties, Associate Editor
After months of negotiations, the Corporate Executive Board announced plans july 21 to move its global headquarters to Rosslyn in 2018. CEB will take 350,000 square feet at JBG Cos.’ Central Place development at 1201 Wilson Blvd. The company will occupy 15 floors in the 31-story building, which will be named CEB Tower.
With an anchor tenant now secured, JBG will be able to start work on the office tower, the second phase of the 1 million-square-foot Central Place project. The company broke ground in April on the first phase of the mixed-use project. It calls for the construction of a a 31-story, glass residential tower, with 377 residences and 25,000 square feet of retail space.
“As we engaged in multi-year financial, workforce and real estate planning, it became clear that this move represented a rare opportunity to secure state-of-the-art space for our growing employee population while realizing attractive economic leverage. Beyond pure economics, employee engagement and productivity were key considerations in our CEB Tower decision,” Tom Monahan, Chairman and CEO of CEB, said in a statement.
Monahan cited the help of Arlington County and the Commonwealth of Virginia. Governor Terry McAuliffe approved two grants for the project, one from the Governor’s Opportunity Fund, worth $4.5 million, and the other from the Virginia Economic Development Incentive Grant, worth $5 million. The Virginia Department of Business Assistance will also provide funding and services to support the company’s recruitment, training and retraining activities, through its Virginia Jobs Investment Program.
“A new global headquarters and investment of this magnitude are tremendous testaments to the confidence the company has in Arlington County and the Commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century,” McAuliffe said “As the marquee tenant of CEB Tower, the company will gain further brand prominence and be associated with a state-of-the-art property near our nation’s capital. “
Photo credit: The JBG Companies
Tags: Acquisitions/Dispositions, CEB Tower, central Place, Commercial, Corporate Executive Board, Developers, Development, Governor Terry McAuliffe, JBG Companies, leasing, Local, National, Office, Regional, Rosslyn, Tom Monahan, Washington D.C. Lead Story