Newmark Grubb Knight Frank expands space at Tysons Dulles Plaza
In a move to position the company for more growth in Northern Virginia, Newmark Grubb Knight Frank (NGKF), a commercial real estate advisory firm, has leased 13,369 square feet at Tysons Dulles Plaza in McLean. Previously it had a 7,398-square-foot lease at 1420 Spring Hill Rd. and will be moving into its larger space at 1410 Spring Hill Rd. in February.
The company expects to be more active within the multi-housing capital markets space following its parent company's acquisition of Apartment Realty Advisors (ARA), which has offices in Richmond, Norfolk and Washington. D.C. BGC Partners entered into an agreement to buy ARA, which did more than $10 billion in volume in 2013, in December.
KBS Real Estate Investment Trust, a non-traded real estate investment trust based in Newport Beach, Calif., announced the deal for NGKF in the Plaza development, a 487,775-square-foot complex located in the Tysons Corner submarket.
The buildings offer access to several major arteries including the I-495 (Capital Beltway) and its HOT Lanes, I-66, Route 123, the Dulles Toll Road and the new Spring Hill Silver Line Metro station.
“Beyond its proximity to major highways and airports, Tysons Dulles Plaza tenants benefit from upgraded onsite amenities and numerous nearby amenities,” said KBS Senior Vice President Stephen Close. “We’re excited to welcome Newmark Grubb Knight Frank as a tenant and as our leasing representative for this property.”
Brendan Owen, NGKF chairman of assets services in the Washington, D.C., area, termed the move “the next phase of NGKF’s continued growth and development in the Northern Virginia market.“
With newly renovated lobbies and common areas, Tysons Dulles Plaza has amenities that include a private Mercedes Sprinter shuttle to the metro, an on-site fitness studio, conference center, and café and balconies for tenants on floors three through six.
NGKF's Stephen Hoffeditz, Edwin Clark III and Wes Evans represented KBS REIT I, and NGKF's Junius Tillery, Chet Rao and Brian Liss represented NGKF in the transaction.