WashingtonFirst Bank expands in Reston Town Center
WashingtonFirst Bank has signed a new 10-year lease for 25,000-square-foot in Reston Town Center.
According to Cresa Washington, D.C., which represented the bank in the transaction, WashingtonFirst is adding 16,000 square feet to its current lease of 9,000 square feet at its headquarters location at 11921 Freedom Drive.
Cresa Washington D.C., Managing Principal Rich Rhodes and Senior Vice President Dan Shapiro represented WashingtonFirst Bank. Its Project Management Services unit, led by company Vice President Chilton Griffin, will manage the strategic planning and construction on the project.
The expansion, Rhodes says, provides his client with room to centralize key operational functions, accommodate the addition of employees from recently acquired Alliance Bank and continue its organic growth.
“After thoroughly surveying the market for other options and measuring the values of our client further expanding at 11921 Freedom Drive, the choice became clear,” Rhodes said in a statement.
WashingtonFirst Bank, which has $1.1 billion in total assets and 15 branches in the D.C. metropolitan area, will expand into the additional space over the summer.
Once the expansion is completed, the community bank will occupy the entire second floor at 11921 Freedom Drive, a 760,000-square-foot, mixed-use property owned by Boston-based Boston Properties.