Corporate Executive Board signs for 350,000 square feet at new office tower in Arlington
The Corporate Executive Board (ÇEB) and the governor’s office announced a new global headquarters operation for CEB on Monday that will create 800 news jobs and give a new office tower in Rosslyn an anchor tenant.
CEB has signed an agreement to lease about 350,000 square feet of space in The JBG Cos. Central Place development at 1201 Wilson Blvd. According to the governor’s office, the company plans to invest $149.7 million in a headquarters operation that supports future workplace plans and can accommodate CEB’s growing global requirements. The member-based advisory company, which works with more than 10,000 organizations around the world, plans to move from two buildings nearby in Rosslyn to its new headquarters in 2018. The building will be named “CEB Tower.” Company spokesperson Leslie Tulio said the relocation will consolidate staff into one building.
Tom Monahan, CEB chairman and CEO, said in a statement that as the company engaged in long-range 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. We wanted to ensure that our team would have access to all the tools they needed to do their jobs and to collaborate effectively with their colleagues across our 50+ offices on six continents.”
Gov. Terry McAuliffe said the new global headquarters and investment “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. As governor, I am committed to bringing projects like these to Virginia – those that create high-paying jobs and will help to diversify and protect the Virginia economy from federal budget cuts.”
In a nod to $9.5 million in state incentives that came with the deal, Monahan said the agreement “would not have been possible without the exceptional partnership of the commonwealth and Arlington County.’’
The Virginia Economic Development Partnership worked with Arlington Economic Development to secure the project for Virginia. Gov. McAuliffe approved a $4.5 million grant from the Governor's Opportunity Fund to assist Arlington County, and he also approved $5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). This is a self-funded program of performance-based incentives that the state awards to economic development projects with large numbers of employees and very high wages relative to average wages for that particular area.
Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance also will provide funding and services to support the company's recruitment, training and retraining activities.
CEB initially will occupy 15 floors within the CEB Tower, a mixed-use complex development located directly above the Rosslyn Metro Station in Arlington. The two-building project will include a 31-story, 525,000-square-foot office tower, a 31-story, 377-unit residential tower, a public observation deck, public plaza and 45,000 square feet of ground-level retail.
CEB’s lease includes office and conference space to facilitate the hundreds of executive leadership events the company hosts annually. The location offers proximity to international travel hubs and is close to local public transportation. The facility also will offer bike and car parking for commuters and a panoramic observation deck.
“We are very excited to have CEB sign on for the new CEB Tower,” said Andy VanHorn, a JBG Principal. “We've landed a world-class tenant that will help us realize the complete vision for Central Place as a thriving mixed-use development that creates a new sense of community in Rosslyn.”
CEB moved from the district to Virginia in 2008. By combining advanced research and analytics with best practices from member companies, CEB says it helps business leaders realize better returns by more effectively managing talent, information, customers, and risk. Member companies include nearly 90 percent of the Fortune 500, more than 75 percent of the Dow Jones Asian Titans, and 85 percent of the FTSE, the 100 companies listed on the London Stock Exchange with the highest market capitalization.