Politico signs 72,000-square-foot headquarters lease in Rosslyn
- August 11, 2014
Monday Properties has completed a 72,000-square-foot office lease with Capitol News Co. LLC for the headquarters relocation of Politico, an Arlington-based news organization that covers American politics.
Politico, currently located in Rosslyn in one of Monday’s twin office towers at 1000 Wilson Boulevard, will move into a larger space in the same buliding in spring of 2015.
According to Monday Properties, the relocation is the culmination of an extensive search for Politico by its parent, Capitol News Co.
“While Politico was aggressively courted by other landlords throughout the Washington, D.C., region, ultimately they decided to establish a long-term tenancy in Rosslyn. It is a testament to Rosslyn’s premier standing as a business location that Politico – with the financial resources to locate anywhere – has chosen to make a strategic decision to locate in Rosslyn,” Tim Helmig, president and chief operating officer of Monday Properties, said in a statement.
Helming said Monday Properties would provide Politico with the capabilities to operate in a 24/7 environment. “We will provide a unique parking solution, a private outdoor terrace, back-up generator location, over 55,000 square feet of onsite retail amenities and unparalleled media specific facilities.”
He said Politico, which distributes its content via television, the Internet, newspaper and radio, is growing “by leaps and bounds, and we can accommodate Politico’s expansion needs well into the future.”
Politico’s coverage of Washington, D.C. includes the U.S. Congress, lobbying, media and the presidency.
Tom Fulcher, Art Greenberg and Adam Brecher of Savills Studley represented Politico in the lease negotiations. John Wharton represented building owner Monday Properties, together with Brendan Owen, Ed Clark and Steve Hoffeditz of Newmark Grubb Knight Frank.
Monday Properties’ Twin Towers, two of the tallest commercial towers in the region, consist of 1000 Wilson and 1100 Wilson Boulevard, which offer more than 1 million square feet of office space. They are about 70 percent occupied, said Helmig. Other tenants include The Raytheon Co., American Psychiatric Association and New Media Strategies. Monday acquired the buildings, which are about 25 years old, in 2007 and since then has invested about $75 million in updates and renovations, Helmig said.
The company recently gained approval from Arlington County to build a new mixed-use project, 1401 Wilson Blvd, that would include 500,000 square feet of office, 350,000 square feet of apartments and 80,000 square feet of retail. The project is in the design stage now, Helmig said, and construction could begin at the end of 2016 if market conditions are favorable. Rossyn continues to be one of the premiere office markets in the region, he added, because of its proximity to the Metro, its access to three highways -- the George Washington Parkway, I-66 and Route 50 -- and lifestyle and housing opportunities.
Founded in 1998, Monday Properties focuses on real estate markets in New York City and the greater Washington, D.C., metropolitan area. It is a real estate investment firm that operates each property within its portfolio.
Since 2002, Monday Properties says it has completed more than $10 billion in transactions representing 23 million square feet.