volkswagon group of america hq, jll & Boston properties
The 2020 Virginia Lease Transaction of the Year is ...
In October 2020, Volkswagen Group of America announced it would relocate three of its corporate headquarters locations in Reston and Herndon to Boston Properties’ next phase of Reston Town Center, which will deliver in late 2021. In 2023, more than 1,000 employees will come together across 196,000 square feet and call this new building home for their US decision-making as well as the opportunity to create a significant retail presence on the main floor.
Together with Boston Properties and already signed co-tenant, Fannie Mae, Volkswagen was able to find their next home and stay in Reston, attracting top talent and ideas to its growing workforce.
What made Volkswagen Group’s US headquarters relocation the transaction of 2020 for the region was in large part that it was the only headquarters relocation in the DC Metro for the year. Not only its size and scope for the region, specifically in Northern Virginia, but what also made the Volkswagen headquarters stand apart was its uniqueness and complexity. Negotiated almost entirely during the COVID-19 pandemic, Boston Properties, Volkswagen and JLL worked tirelessly to creatively resolve challenging workspace requirements while being mindful of obligations to existing tenants. Working collaboratively, the parties developed solutions including unique dining and conferencing accommodations that ultimately allowed Volkswagen to consolidate three office facilities into one, more efficient and structured deal that was not previously available.
And what’s more is the design influence and indelible mark Volkswagen will have within the building and Reston. As part of the deal, Boston Properties will construct an auto display “jewel box” extending from the building with prominent visibility from the Dulles Toll Road. Volkswagen has also become the official auto partner of Boston Properties in Reston Town Center, which will allow them to further establish their organization as a pillar of the community in which they work. Furthermore, the automaker will also have exclusive rights to maximize their marketing and branding initiatives at the highly amenitized property and have base building design influence in advance of the delivery in 2021. Volkswagen’s move-in date is slated for 2023 where they will call Reston Town Center home for the next 20 years. Boston Properties was represented by Ray Ritchey, Pete Otteni, Jake Stroman, Rich Ellis and Matt Bonifant. Volkswagon was repped by JLL's team of Greg Lubar and Steve Spartin