Hilton Takes New HQ in Tysons Corner

TYSONS CORNER, VA-Hilton will be taking approximately one-third of one of the few new office buildings here. It has signed a 10-year lease for office space at Park Place II, an 11-story, 323,000-square foot office building developed by B.F. Saul Real Estate Investment Trust. Hilton did not disclose the exact square footage, other than to say it will be occupying approximately one-third of the building. Dan Evans, Jeff Groh, Dee McDonald-Miller and Peter Berg at Jones Lang LaSalle team representation of Hilton. Moe Hamilton, Brian McVay, Lou Christopher and Ali Bakke of Cushman & Wakefield represented the landlord in the transaction.

Located at 7930 Jones Branch Dr., Park Place II is next to the Hilton McLean Tysons Corner, one of the factors in its decision, Groh tells GlobeSt.com. It also liked the Gold LEED certification that Park Place has achieved, as well as its proximity to the metro and HOV lanes. The building as about 123,000 square feet left to rent, he says.

Hilton’s site selection decision from start to finish was on the fast track. The company only announced it would be relocating its headquarters from Los Angeles to the DC area at the end of January. It quickly settled on Virginia, reportedly in part because of the incentives the state offered it. Hilton will move in Q3 2009.

Although the two states and the District hotly competed for the assignment, Hilton’s move is viewed as a win for the area in general and the local hospitality industry in particular. Marriott has been based here for decades, as well as Choice Hotels International, which owns the Comfort Inns and Econo Lodges flags. Other locally-based hotel groups include RLJ Development, Interstate Hotels & Resorts and DiamondRock Hospitality.