Joint venture will develop $100 million office tower at Tysons
- December 2, 2013
American Real Estate Partners and The Association For Manufacturing Technology (AMT) announced a joint venture Monday to develop a 10-story, $100 million office tower that will anchor the Arbor Row master planned district of Tysons
Designed by KGD Architecture, the 200,0000-square-foot project, 7901 Westpark, will be built at the intersection of Westpark Drive and Galleria Drive, one block from the Tysons Corner Silver Line metro station. It will overlook the Beltway and the new 495 express lanes. According to the companies, a glass curtain wall tower will afford soaring views of Northern Virginia. Groundbreaking, though, is still a ways off with construction expected to begin in the fourth quarter of 2014.
"We are delighted to be partnering with AMT on what will be one of the most visible and best located office developments in Tysons Corner,” American Real Estate Partners President, Brian Katz, said in a statement. "
Company CEO Doug Fleit added, "Tysons has already become the strongest and most amenity rich office location in Northern Virginia. With our project's location next to the Metro and adjacent to the HOT lanes, 7901 Westpark will be the most desirable office building in the market."
AMT's offices are currently located in the existing 7901 Westpark building, which will be demolished to make way for the new building. The association expects to occupy about 30,000 square feet in the new building.
Amenities will include a 200-seat conference center, a rooftop terrace and a ground-floor fitness center and cafe.
American Real Estate Partners, based in Herndon, focuses on commercial real estate assets in markets along the Eastern Seaboard. The firm's current holdings total about 5.2 million square feet of Class A office, flex and industrial assets.
AMT represents and promotes U.S.-based manufacturing technology and its members. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, global support and business intelligence systems and analysis.