Sands Capital Management to expand and lease four floors in Rosslyn’s Twin Towers
Sands Capital Management, a financial investment firm, will relocate across the street from its current address to a larger 80,000-square-foot space in the Monday Properties’ Twin Towers building in Rosslyn.
Monday Properties said Wednesday that the company, currently located at 1101 Wilson Blvd. in another Monday building, would move into the uppermost four floors at 1000 Wilson Blvd, with occupancy scheduled for February 2016.
Monday Properties will construct a new roof deck atop the 31st floor at 1000 Wilson Blvd., offering views of Washington, D.C.’s monument corridor and the Potomac River.
Tim Helmig, president and chief operating officer of Monday Properties, said in a statement that “Sands Capital’s tenancy with Monday began when they occupied less than 10,000 square feet in 1100 Wilson Boulevard. Today, they are a major international investment firm with significant assets under its management. This lease not only reflects the outstanding growth of Sands Capital, but also the valued tenant-landlord relationship between both organizations.”
Avison Young represented Sands Capital Management in the lease transaction while Monday Properties was represented in-house and by staff from Newmark Grubb Knight Frank.
In recent years, Monday Properties has invested more than $70 million in improvements to the Twin Towers, including new lobbies, elevators, HVAC system and parking garage upgrades. In the near future, it plans to renovate an 8,000-square-foot fitness center at the Towers and add a new restaurant at the corner of Wilson Boulevard and Lynn Street.
The company said these investments have helped spur robust leasing activity in the Towers, including more than 250,000 square feet of lease transactions in the last six months.
Some of those deals include:
A new, 72,000-square-foot long-term office lease with Capitol News Co. LLC for the headquarters of Politico, a political news organization, at 1000 Wilson Blvd.
A renewal of 59,361 square feet of office space for SRI International, a large nonprofit, independent research and innovation center serving government and industry, at 1100 Wilson Blvd.
A renewal of 19,102-square feet at 1000 Wilson Blvd. for Aerospace Industries Association, a trade group that represents aerospace and defense companies.