HERNDON, VA–Amazon Web Services will be using One Dulles Tower as its East Coast corporate campus in a new deal just announced by Gov. Terry McAuliffe. The deal, which appears to be a full-building lease for the 397,000-square foot tower, will create 1,500 jobs, according to the Fairfax County Economic Development Agency.
AWS will be eligible to receive $7,000 per net new job created, up to 1,500 total jobs, through a custom performance state grant approved by the governor and the General Assembly's Major Employment and Investment Commission.
One Dulles Tower is located in the Woodland Park master planned development. Federal Capital Partners acquired it in late 2015 for $84 million.
Corporate Office Property Trust was the owner, having acquired it in 2003 for $71 million. It had been trying to re-tenant it but was having difficulties, most likely because of the strict security procedures to access the building.
The building had been fully leased to Booz Allen Hamilton but the security consultant vacated it in a planned move around the time of the purchase. The purchase was a significant one for FCP — it was its largest office deal in the region at that point in time. FCP then launched a repositioning and rebranding of the property.
Interestingly, FCP's thinking at the time, according to an interview with GlobeSt.com when it sold, was that building would most likely transition to a multi-tenant one and that it was possible that there might be potential tenant activity from the Herndon and Reston submarkets. As it turned out neither was the case.
HERNDON, VA–Amazon Web Services will be using One Dulles Tower as its East Coast corporate campus in a new deal just announced by Gov. Terry McAuliffe. The deal, which appears to be a full-building lease for the 397,000-square foot tower, will create 1,500 jobs, according to the Fairfax County Economic Development Agency.
AWS will be eligible to receive $7,000 per net new job created, up to 1,500 total jobs, through a custom performance state grant approved by the governor and the General Assembly's Major Employment and Investment Commission.
One Dulles Tower is located in the Woodland Park master planned development. Federal Capital Partners acquired it in late 2015 for $84 million.
Corporate Office Property Trust was the owner, having acquired it in 2003 for $71 million. It had been trying to re-tenant it but was having difficulties, most likely because of the strict security procedures to access the building.
The building had been fully leased to
Interestingly, FCP's thinking at the time, according to an interview with GlobeSt.com when it sold, was that building would most likely transition to a multi-tenant one and that it was possible that there might be potential tenant activity from the Herndon and Reston submarkets. As it turned out neither was the case.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
