Newly Renovated Fairview Park Office Building Inks Major Lease

Washington Property Company (WPC) has leased nearly half of the newly renovated Class A office space at 3160 Fairview Park in Falls Church, VA to an unnamed tenant. The 51, 525 SF lease covers all of the building’s fifth and sixth floors and part of the fourth floor. Occupancy is scheduled for the first quarter of 2019.

Steve Burman of JLL represented the tenant. Mike Pepper and John Henschel of Newmark Knight Frank and WPC Vice President Joshua Gurland represented the ownership.

WPC has just completed a nearly year-long $7 million full-building renovation of 3160 Fairview Park. “This extensive renovation has transformed an older property into virtually new construction,” said Gurland. “Our tenants get the benefits of being in a state-of-the-art building with a huge amenity package, situated within an established business park, while paying competitive rental rates.” Gurland noted that over 65,000 SF of office space remains available for lease.

The Fairview Park transaction tops off WPC’s successful Virginia leasing in the first two quarters of 2018. WPC signed inked four leases totaling 23,649 SF at its Westwood Office Building at 8618 Westwood Center Drive in Vienna and two leases totaling 12,479 SF in the Huntwood Office Building at 5834 Richmond Highway in Alexandria. Along with new leases and renewals at eight Maryland office buildings, WPC ended the first half of 2018 with 152,980 SF of leasing activity.

The 3160 Fairview Park renovation program includes a new tenant-only fitness center with showers and locker rooms, a modern conference center, and a tenant collaboration area with flexible lounge seating. The spacious, club-like fitness facility will offer a high-end cardio studio with spin bikes, as well as multiple flat-screen TVs. The reconfigured lobby features a glass canopy, contemporary finishes, and a covered walkway leading to the 400-car parking garage.

3160 Fairview Park is part of the 220-acre Fairview Park complex, where office tenants enjoy three lakes, cascading waterfalls, a koi pond, and 2.5 miles of jogging trails. The Fairview Park Marriott Hotel and 2941 restaurant are within walking distance. A free shuttle provides transportation to and from the nearby Mosaic District, a live-work-play community with numerous popular restaurants, Target, and upscale boutiques.

WPC acquired the property, built in the 1980s as headquarters for Computer Sciences Corporation (CSC), in March of 2017 for $7.15 million. In addition to providing easy access to I-495, Fairview Park offers proximity to Metrorail’s Dunn Loring-Merrifield station on the Silver and Orange Lines, and the rapidly redeveloping ‘edge city’ of Tysons.