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After Weighing Move to D.C., MicroStrategy Elects to Keep HQ in Tysons Corner

Business Intelligence and Analytics Provider Extends Longtime Headquarters in Fairfax County, Pledges to Invest $6 Million in Capital Improvements, Create 300 Jobs
March 12, 2018
MicroStrategy (NASDAQ: MSTR) is staying in Tysons Corner after the business intelligence leader reached a deal to extend its 213,000-square-foot headquarters lease at 1850 Towers Crescent Plaza in Vienna, VA.

Based in the Tysons Corner area since 1994, the enterprise analytics and mobility software provider had been eyeing potential locations across the Potomac in Washington, D.C. for its corporate offices before electing to stay at its longtime headquarters in Fairfax County, where the company employs 800 workers.

In concurrence with the lease extension, which runs through December 2030, MicroStrategy confirmed it will invest $6 million into capital improvements at its space at 1850 Towers Crescent Plaza, and hire an additional 300 employees.

The Federal County Economic Development Authority (FCEDA) worked with the Virginia Economic Development Partnership to keep MicroStrategy in Fairfax County. Virginia Governor Ralph Northam also approved a $1 million grant through the Commonwealth's Opportunity Fund to assist with the effort.

1850 Towers Crescent Plaza is a 295,041-square-foot, 13-story office building completed in 2009 as part of the Towers Crescent office park located just south of the Tysons Corner Center along I-495. MicroStrategy relocated to 166,000 square feet in the building in 2010 from 1861 International Dr. in McLean, VA, where it spent more than a decade. The company would go on to expand into three additional floors at 1850 Towers Crescent Plaza in 2011 and 2014, according to CoStar information.

Developed by Quadrangle Development Corp., 1850 Towers Crescent Plaza is owned by a joint venture of Quadrangle, AEW Capital Management and Promark Global Advisors. The Class A tower connects to the Tysons Corner Center shopping mall via a covered pedestrian bridge.

Brian Connolly and Robert VeShancey of JLL negotiated the lease renewal on behalf of ownership, while Junius Tillery and Andrew Roberts of Newmark Knight Frank brokered the deal for MicroStrategy.
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