Mixed-Use Development Serves as Gateway to Tysons, Washington, D.C.
May 20, 2021
Washington – Transwestern Real Estate Services (TRS) announces it was selected by AEW Capital Management LP (AEW) and Quadrangle Development Corporation (QDC) to provide exclusive leasing services for Towers Crescent, a preeminent mixed-use development comprising office and retail space in Tysons, Virginia. Transwestern’s Tony Womack, Alex Hancock and Bernie McKeever Jr. will provide leasing services for the business park’s 1 million square feet of office space on behalf of the owner.
Towers Crescent’s four office buildings include 8000, 8010 and 8020 Towers Crescent Drive and 1850 Towers Crescent Plaza. The mixed-use development serves as the gateway to Tysons and features an extensive network of transportation options, including a 7-minute walk to the Tysons Corner Silver Line Metro Station, and unparalleled access to several major roadway entry points, including Interstates 495 and 66, the Dulles Toll Road, Route 123 and E-ZPass lanes.
“Transwestern is thrilled to work with AEW and QDC to represent the iconic Towers Crescent portfolio,” said Womack. “The development is already unmatched in location, amenities and access, and the capital investment slated for the upcoming year will only reaffirm its position as the office market leader.”
Tenants benefit from a wide range of dynamic and diverse shared amenities, including a new 300-person, state-of-the-art conference center, expansive fitness center, on-site dining options and SIMPLI, an integrated, full-service concierge service. Towers Crescent is also home to the distinguished “Tower Club,” a diverse business and social community, where members can work and connect.
The property is directly adjacent to Tysons Corner Center, which features 2 million square feet of fully curated retail, including 300 brands and 40 restaurants ranging from casual to fine dining. Capital One, MicroStrategy, Venable and Cohn Reznick are among the development’s community of notable tenants.
“We are excited to embark on a capital improvement program that we expect will reposition Towers Crescent as one of Tysons most vibrant destinations with the style and functionality tenants expect from today’s workplace,” said AEW Vice President Steven Kingsley. “We have a unique opportunity to leverage the scale of the property, with its abundance of greenspace, to create an amenity-rich environment that fosters well-being, community, equality and inclusion, to meet the needs of tenants in the post-pandemic world.”
About Quadrangle Development Corporation
Quadrangle Development Corporation (QDC) has completed, acquired, or commenced development of approximately 80 office, multi-family, hotel, and mixed-use projects, aggregating 22.0 million square feet and $13 billion in investment at current cost. They are a leading vertically integrated commercial real estate firm in the Washington metropolitan region. The firm employs a highly analytical, market-focused approach to develop, acquire, and operate best-in-class commercial and residential properties in Washington, Maryland, and Virginia.
About AEW Capital Management
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $85 billion of property and securities in North America, Europe and Asia (as of December 31, 2020). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information, please visit www.aew.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.