January 25, 2018
Washington – Transwestern today announces Joe Ritchey has joined the firm as Executive Vice President. Ritchey has spent nearly 30 years leasing the 3 million-square-foot office development Reston Town Center in Reston, Virginia. In his new role at Transwestern, he will do similar work, focusing on leasing the office components of urban, mixed-use developments in Northern Virginia.
“I experienced many challenges and triumphs working on Reston Town Center, and it was incredibly satisfying to work on a project of that magnitude from start to finish,” said Ritchey. “I’m very proud of my work in Reston and ready to apply that experience to new developments with Transwestern. After nearly three decades working on my own, I’m thrilled to join a company with vast regional and national resources.”
As founder and principal of real estate brokerage and consulting firm Prospective Inc., Ritchey represented Boston Properties in leasing the office component of Reston Town Center, where office space rents run up to $20 per square foot higher than office developments just blocks away. This urban, mixed-used development, which opened in 1990, includes more than 450,000 square feet of retail amenities, with more than 50 shops, 35 restaurants, a multiscreen movie theater, luxury residences, a conference hotel and thoughtfully curated public art and public spaces. He is currently working on a transaction to lease the last remaining office vacancy at the project.
“Joe is a legend in the Washington metro commercial real estate industry,” said Phil McCarthy, Transwestern Executive Managing Director and Mid-Atlantic Market Leader. “He will add tremendous value to the Transwestern team and serve as an incredible resource and mentor for our young professionals. His accomplishments working solo are incredible, and we can’t wait to see what we can accomplish together by providing him a full suite of resources, including best-in-class research, marketing, designers and experts in a wide array of specialties across the country.”
In addition to his work for Boston Properties, Ritchey also represented Mobil Land Development Corp., Hazel/Peterson Cos. and the Walt Disney Imagineering in leasing and consulting on the office components of large-scale mixed-use developments in Virginia and Florida.
Ritchey is an enthusiastic community-builder, place-maker, and ambassador of the arts. He worked to support a thriving arts scene in Reston and Reston Town Center, which features Mercury Fountain, along with numerous other installations, to create inviting public gathering spaces that bring together the community. In 2007, he founded Public Art Reston (formally Initiative for Public Art - Reston), which funded a consultation team to create a Public Art Master Plan for Reston, making it the first non-incorporated jurisdiction in the U.S. to complete a public art master plan. In 2015, Prospective Inc. was named among the 10 Best Businesses Partnering with the Arts in America by Americans for the Arts.
Ritchey’s awards and community leadership positions include:
· First Recipient, Robert E. Simon Community Service Award – Reston Interfaith and the Greater Reston Chamber of Commerce, 2008
· Fairfax County Citizen of the Year – Fairfax Federation of Citizens Associations and The Washington Post, 2004
· NAIOP Northern Virginia – Life Director
· Northern Virginia Transportation Association – Life Director
· Public Art Reston – Founder, Chairman, Board of Directors, 2007 – Present
· Arts Council of Fairfax County, Virginia – Chairman, Board of Directors, 2008 – 2016
· Greater Reston Arts Center – Board of Directors, 2006 – 2015
· Fairfax County Master Art Plan Task Force – Co-Chair, 2011 – 2015
· Reston Hospital Center Board of Directors – Chairman, 2006 – 2012
· Wolf Trap Foundation – Board of Directors, 2008 – 2010
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.