Lerner Enterprises, the D.C.-area development company recently named the new owner of the Washington Nationals, on Monday announced plans to develop an 18-story, 472,000-square-foot office building in the Tysons II area.
The office building — which is scheduled for a summer 2009 delivery — is the fifth proposed for a 5 million-square-foot mixed-used development that is part of an overall development strategy to convert Tysons from acommuter destination to a pedestrian-friendly, livable community.
The office building will be located at 1775 Tysons Blvd. in The Corporate Office Centre at Tysons II and will feature an enclosed pedestrian bridge over Tysons Boulevard. The building has not been leased to any tenants yet, but the project could bring about 1,500 new people to Tysons prior to the anticipated 2011 opening of the Metrorail extension.
The project is not tied to Metro, said Jeffrey K. Diamond, president of Diamond Property, the McLean-based firm that will lease out the building.
“The infrastructure here is already in place for the density we are building to,” he said.
But other Lerner Enterprises development projects planned for Tysons II are contingent on the arrival of Metro. An additional 2.5 million square feet of space has been rezoned to allow higher-density development, Diamond said. The space will include at least 200 condominium units, but if Metro doesn’t make it to Tysons, development plans will have to be scaled back.
Lerner’s Mixed-Use Projects
Lerner Enterprises has been developing in Tysons II for years. The first office building in the 5 million-square-foot mixed-use complex was completed in 1989.
The development company has developed many of the high-profile projects in the Tysons-area, including:
» Tysons Galleria: The 800,000-square-foot sister shopping mall to Tysons I. The space includes Saks Fifth Avenue, Neiman Marcus and more than 100 shops and restaurants.
» The Ritz-Carlton, Tysons Corner: The 398-room luxury hotel is connected to the area’s office towers and Tysons Galleria by enclosed walkways.
» 1600 Tysons Boulevard: The recently completed 320,000-square-foot office building is leased to PricewaterhouseCoopers, Declaration Management & Research, Houlihan Lokey Howard & Zukin, and Red Zone Capital Management Company.
