Since Monday Properties delivered 1812 North Moore St. in 2013, the region's tallest tower has sat vacant. Now, after four years, the building has finally landed its first tenant.
Nestlé will relocate its U.S. HQ from California to the Rosslyn tower, the Washington Business Journal first reported.
The company will occupy 206k SF on floors 27 through 35, with the ability to expand to more than 250k SF. The 35-floor, 390-foot-tall building has a total of 537k SF of office space.
Virginia is giving the company $10M in economic incentives as part of the deal, with another $6M coming from Arlington County. The Switzerland-based company currently has its US HQ in Glendale, Calif., in a 380k SF lease that expires in 2021. Nestlé will invest $39.8M to move its HQ and estimates it will create 748 new jobs.
“The magnitude of securing one of the most widely recognized corporate brands in the world reinforces our initial strategic business plan which was to develop an office project that would attract prestigious corporate tenants to occupy what is arguably the highest quality designed office project in the metropolitan Washington, D.C. area," Monday Properties president and COO Tim Helmig said in a release.