Sinclair Television Group, Inc is renewing its over 100,000 square foot lease at 1000 Wilson Boulevard and 1100 Wilson Boulevard until 2031. The Towers is one of 10 buildings owned and operated by Monday Properties throughout Rosslyn and the greater metropolitan area.
“Over the past several years, we have been running an extensive search in the Metro D.C. area with the goal of selecting a long-term real estate solution that meets our future business objectives. As we looked at our options, which included building a new, standalone facility, we kept coming back to the Towers,” said Del Parks, Senior VP and Chief Technology Officer of Sinclair Television Group, Inc. “With its expansive building infrastructure and operational flexibility, we are able to execute our growing platform in Rosslyn most efficiently.”
“It’s clear that Rosslyn’s ongoing transformation offers a robust and diverse array of businesses, retailers and housing options which are critical for our employees’ overall workplace and social requirements,” Dan Mellon, General Manager of Sinclair’s WJLA and News Channel 8, which will occupy part of the space. “The Towers proximity to Northern Virginia, Maryland and Washington, D.C., also provides our employees the ability to cover stories quickly, from a location that is free from transportation inefficiencies.”
Sinclair’s decision to re-commit to Rosslyn builds on its extensive occupancy history at the Towers, where its landmark media companies, WJLA and News Channel 8 (acquired by Sinclair in July 2014) have been long-term tenants. Sinclair’s 15 year lease will be accompanied by an extensive infrastructure investment to suit their unique business needs, which includes vital connectivity to the Washington D.C. area.
With the renewal of their lease, Sinclair has joined a growing ‘media hub’ trend in Rosslyn, which has an impressive roster that includes Politico, Washington Business Journal, Graham Holdings, Salem Communications, Washington Free Beacon and New Media Strategies.
“When we did our initial short-term renewal with Sinclair earlier this year, we did so hoping that we would provide Sinclair the time necessary to fully vet their real estate search which included the Towers. Over the past couple of months, we have worked collaboratively with the Sinclair team to formalize a comprehensive lease renewal structure that enables them to firmly achieve their firm’s new programming endeavors. As companies increasingly look to pursue first-rate amenities, easy accessibility and a business-friendly environment, the Rosslyn submarket continues its upward trend of being a location that firms look to in attracting and retaining high quality employee talent.” said Tim Helmig, President and Chief Operating Officer of Monday Properties. “We’re pleased that Sinclair will remain a tenant of Monday Properties, enjoying the unparalleled amenities and lifestyle opportunities Rosslyn has to offer.”
Including the Sinclair transaction, Monday Properties has executed over 345,000 square feet of new and renewal leases in 2016 in its portfolio as Rosslyn continues its impressive, upward absorption trend this year, joining other recent high profile transactions with global consulting group, Grant Thornton, Price Waterhouse Cooopers, Eastern Foundry, CalAtlantic Group (Ryland Homes) and Silicon Valley Bank, to name a few.
The brokers: Sinclair Television Group was represented by Joe Judge and Robb Johnson of JLL. John Wharton and Deniz Yener represented Monday Properties.
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.
