WASHINGTON (August 13, 2019) – Savills is pleased to announce that its long-time client, the Institute for Defense Analyses (IDA), began construction on its 370,000-square-foot build-to-suit headquarters building in Alexandria, Virginia.
Savills Vice Chairman and Director David Lipson, Vice Chairman Arthur Greenberg and Managing Director Bie Chu Lee represented IDA throughout the transaction, helping to secure the development site in the burgeoning mixed-use community.
“IDA’s development at the Potomac Yard Metro allows the company to stay in Alexandria and in close proximity to its major customers located at the Pentagon. Since IDA acquired the site three years ago, the area has flourished with Amazon’s announcement of locating its HQ2 nearby and Virginia Tech selecting a site one-quarter mile north for its Northern Virginia campus,” said Greenberg.
Savills joined IDA executives and community leaders at the groundbreaking ceremony on the approximately two-acre site located at 730 East Glebe Road. Savills guided IDA through the multi-year acquisition from a joint venture of JBG Smith and MRP Realty.
“IDA is very excited about our new state-of-the-art facility in the heart of Northern Virginia’s blossoming high-tech corridor,” said IDA’s Dean Graves, director of special projects. “This is the latest milestone in a journey that began when we began exploring options for a future location in 2009.”
IDA is a nonprofit corporation operating three Federally Funded Research and Development Centers in the public interest. IDA provides objective analyses of national security issues and related national challenges, particularly those requiring extraordinary scientific, technical, and analytic expertise to its US Government sponsoring agencies.
James G. Davis Construction is the general contractor for the project. KGD Architecture is the base building and interior architect. Arent Fox serves as legal counsel to IDA. Raymond James arranged the financing.