The Corporate Executive Board (NYSE: CEB
) struck a deal to keep its headquarters in Arlington County as the member-based advisory firm agreed to lease approximately 350,000 square feet in a new Rosslyn office tower The JBG Cos. is building as part of its Central Place development.
Slated to deliver in 2018, the new building will be named CEB Tower after the firm agreed to occupy 15 floors of the 31-story, 535,000-square-foot office tower going up at 1201 Wilson Blvd. In addition to the office tower, plans for Central Place include a 377-unit residential complex and 45,000 square feet of ground level retail.
Virginia Governor Terry McAuliffe approved a $4.5 million grant from the Governor's Opportunity Fund and another $5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG) - established as a self-funded program of performance-based incentives - to support local and county efforts to secure the project. The company has maintained its headquarters in Rosslyn since moving out of the District in 2008.
Central Place is a fully-entitled, mixed-use development situated above the Rosslyn Metro Station and directly across the Potomac River from Washington, D.C.'s Georgetown district.
Louis Christopher of CBRE brokered the transaction on behalf of CEB. Paul Adkins represented The JBG Cos. in-house.