WASHINGTON, DC-After months of speculation and anticipation, Northrop Grumman decided to buy a building for its soon-to-be established headquarters operations here: 2980 Fairview Park Dr., a 14-story building owned by ING Clarion Partners that is partially occupied by Verizon. The purchase price hasn’t been recorded yet.

The decision to buy came as something of a surprise to the market, which had been led to believe Northrop would lease the space. "I think its decision represents its commitment to the region," Cassidy Turley's Kevin Thorpe tells GlobeSt.com. In general, he says, buying versus leasing--even in the current helter skelter environment--comes down to an individual company’s situation and balance sheet.

That said, Northrop Grumman follows a handful of deals where companies opted to buy their building instead of leasing, Jones Lang LaSalle’s, Scott Homa, tells GlobeSt.com. He points to Kaiser Permanente acquisitions in Tysons Corner, VA and Gaithersburg, MD; Inova in Falls Church, VA; and CoStar in the District. Like Thorpe, Homa says the decision to buy versus lease must be based on a company’s individual financial factors--as well as its tax situation--and, in the case of Northrop, the financial incentives the local jurisdiction is offering. However, for companies with cash on their balance sheets, he adds, many are finding now to be a particularly good time to buy.