Leidos Holdings has signed a new full-building lease for a 17-story office building Boston Properties plans to complete in Reston Town Center by early 2020.
The information technology contractor, which already has offices in Reston, will shift its headquarters to the building on 1750 President Street, according to a release by the company.
“Our new space will give us the opportunity to build on our culture and brand as a combined company, as well as be able to better tailor our working environment to meet employee needs,” wrote Leidos chairman and chief executive officer Roger Krone.
The company began an 18-month search across the region after acquiring a division of Lockheed Martin in 2016. Nearly five years ago, the company separated from SAIC and moved from McLean to RTC’s One and Two Freedom Square.
Construction on the 17Fifty building, which is the last office space to be built in the 86-acre urban core of RTC, is expected to begin in the spring.
Boston Properties’ trophy tower is designed by Shalom Baranes Associates, and will include 8,000 square feet of retail space and a four-floor below-grade parking garage.
Katie Yanushonis, vice president of Boston Properties said she is confident that new building will fit the company’s effort to retain and motivate it’s “world class employee base.”
The terms of the agreement were not disclosed.
Rendering via Boston Properties
“We are now in dialogue with a tenant for 100 percent of our proposed new development in Reston Town Center, 17Fifty,” said Doug Linde, Boston Properties president, during the company’s quarterly earnings conference call Wednesday.
The 270,000-square foot, 17-story office building will be constructed at the corner of Presidents and Market streets. No further information was provided about the nature of the potential tenant.
Linde also said there are “multiple tenants competing” for a 38,000-square foot block of space at Reston Town Center.
Also during the conference call Wednesday, BXP CFO Michael LaBelle said the company is expecting big things from The Signature, currently under construction at Fountain Drive and New Dominion Parkway. The mixed-use development, which will be anchored by a Balducci’s grocery store, will have 508 residential units and nine levels of underground parking when it opens next year.
LaBelle called the development one of the “most significant projects in our pipeline.”
Site plan via CBRE/Reston Town Center