Nestle Win Means More Tenants for Previously Vacant Rosslyn Building, Developer Says

ARLINGTON, VA — The towering office building at the heart of Rosslyn sat vacant for years after being completed in 2013, but the developer tells Patch that the recent decision by Nestle to move their U.S. headquarters there should result in an influx of tenants in the near future.

Anthony Westreich, the chief executive officer of 1812 North Moore Street developer Monday Properties, said that he had received multiple offers from small tenants in the years since the building's completion, but had turned them down, instead opting to wait for a "blue chip" tenant to anchor the property. This week, they got their wish, as Nestle announced plans to move its headquarters from Glendale, Calif. to the office building, taking up 206,000 of the 540,000 square feet the building offers, with an option to expand to 250,000 square feet.

The process was lightning fast. Deals of this size often take years, but Nestle reached a deal with Monday Properties in just six months.

"The senior leadership of Nestle was very methodical in their process," Westreich said. "We were approached by their broker."

Westreich said the reason the building sat vacant for so long is because they had the misfortune to complete it right around the time of government sequestration. However, now that Monday Properties has scored its blue-chip tenant, they expect to start approving other applications.

"Now that they're in, there's a huge momentum shift," he said.

Image via Monday Properties