February 1, 2017
Nestlé USA, INC. relocates U.S. Corporate Headquarters to Monday Properties' 1812 North Moore Street
One of the world’s largest nutrition, wellness and health companies to invest $39.8 million and create 748 new jobs in Arlington County, Virginia
Rosslyn, VA, February 01, 2017 – Monday Properties announced today, alongside Governor Terry McAuliffe, that Nestlé USA, Inc. (“Nestlé”) will be relocating its U.S corporate headquarters from Glendale, California to Rosslyn, Virginia. In an historic move, the Company will initially lease 40% of the building, or 206,000 square feet, on the 27th through 35th floors with the ability to expand to over 250,000 square feet of space at Monday’s world-class property, 1812 North Moore Street. Nestlé was represented by Lou Christopher and R. Todd Doney of CBRE. The Landlord team was represented by Tim Helmig, Austin Freeman and John Wharton at Monday Properties and Evan Behr and Doug Mueller at Jones Lang LaSalle. “Monday Properties is proud to welcome Nestlé, one of the world’s finest companies, to our landmark property, 1812 North Moore Street, in the heart of Rosslyn,” said Anthony Westreich, CEO of Monday Properties. “This transaction is particularly special to my family and me because we have been intimately involved in the early development of Rosslyn, dating back to the early 1960s. My father, Stanley Westreich, and his partners developed many of the first high rise projects in Rosslyn, having overseen the Gannett Company’s relocation in 1984 to Rosslyn at our 1000 Wilson Boulevard project just one block east of 1812 N Moore Street. Nestlé’s relocation to Northern Virginia is emblematic of how Rosslyn has become an epicenter to access culture, talent and a highly-educated workforce, all of which combine to create an ideal environment for employees and employers. As a natural continuation of Washington, DC’s office market, Rosslyn is attracting businesses and corporations of all sizes—a trend that will continue going forward.” Marking one of the largest corporate relocations in Northern Virginia, Nestlé will invest $39.8 million to relocate its U.S. corporate headquarters and estimates that 748 new jobs will be created. This transaction culminates an extensive and wide-ranging relocation search effort by Nestlé, which ultimately selected Rosslyn as its real estate solution as it continues to grow its diversified corporate platform. Nestlé’s announcement comes on the heels of a number of high-profile corporate commitments to the Rosslyn-Ballston corridor, which has transformed and attracted one of the country’s most desirable pools of top talent for companies looking to leverage for future growth. “It is an honor to have Nestlé as our anchor tenant at 1812 North Moore Street,” said Tim Helmig, President and COO of Monday Properties. “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. As companies such as Nestlé increasingly look to procure first-rate amenities and easy accessibility to Washington, DC, they’ll find that Rosslyn offers a business-friendly environment unparalleled with lifestyle opportunities for its employees.” Soaring 390 feet, the LEED Platinum certified 1812 North Moore Street building is metropolitan Washington, DC’s tallest building with unprecedented visibility and recognition in the marketplace. Of incomparable caliber, distinct design and boasting the most efficient floor plates of any trophy building in the area, the building offers 537,000 square feet spanning 35 stories. The project’s remaining floors (encompassing over 300,000 square feet) provide future tenants with quality view space which is situated within a neighboring “who’s who” tenancy, including but not limited to Grant Thornton, Sinclair Broadcasting, Sands Capital, Raytheon Company, and BAE Systems. “Rosslyn has clearly arrived,” noted Austin Freeman, Monday Properties Regional Portfolio Manager, who added “Companies are searching not only for quality and efficient real estate solutions, but want to be situated in a premier, transit accessible location that can attract and retain employee talent. 1812’s centralized location and Rosslyn’s unparalleled access to the entire metro DC region has resonated with corporate decision makers. When a company of Nestlé’s stature and global reach enters the market, it says a lot for the Rosslyn, Virginia story.” On the heels of the Nestlé transaction and as a result of projected increases in defense spending under the Trump administration, Monday Properties expects to see sustained momentum in commercial real estate leasing within Rosslyn over the coming months. Monday has transacted on over 650,000 square feet of leasing activity in Rosslyn over the past 18 months. About Monday Properties:
Monday Properties is a dynamic real estate investment firm that operates each property within its portfolio. Founded in 1998, the company is an owner, operator and developer of real estate with a primary focus on supplied constrained markets and value add real estate opportunities in growth markets. Since 2002, Monday Properties has completed over $12 billion in over 50 separate transactions, representing 27 million square feet. Monday Properties co-invests its own capital alongside its partners and investors, creating a clear alignment of interest and an incentive to realize value.