May 6, 2015
MACERICH'S TYSONS TOWER NAMED 2014 BEST NEW OFFICE DEVELOPMENT BY WASHINGTON BUSINESS JOURNAL
-Second Major Award for Tysons Tower, Now More than 85% Leased-
SANTA MONICA, Calif., May 6, 2015 /PRNewswire/ -- Macerich (NYSE: MAC) today announced its trophy 22-story Tysons Tower, a key component of the breakthrough, mixed-use urban expansion at Tysons Corner, has earned the 2014 Best New Office Development Award from the Washington Business Journal.
Presented last week at the publication's Best Real Estate Deals of 2014 event, the award honors Macerich's Tysons Tower as the best and most financially successful new office product to open in the Washington, D.C. area during 2014.
This is the second major award earned by Tysons Tower; the gleaming office tower with spectacular views also recently earned a 2014 Award of Excellence from the Northern Virginia Chapter of NAIOP, the Commercial Real Estate Development Association. Tysons Tower is home to Intelsat, the world's largest satellite provider, Deloitte, the global consulting firm, and multiple other corporate tenants. The office tower is currently more than 85% leased."
Our unique and irreplaceable Tysons Corner property is one of the most successful densification projects in the country," said Ed Coppola, President, Macerich. "Tysons Tower continues to win major awards for excellence in the office category, in April the property's 300-room Hyatt Regency hotel opened to rave reviews and this week the first tenants are moving into VITA, the property's luxury residential tower, which is already 25% pre-leased. As we near completion of this exceptional expansion, we are very proud of everything we have accomplished at Tysons."
Prospective office tenants are responding to the property's premier, amenity-rich location in Northern Virginia just outside Washington, D.C.
"Tysons Tower is located next to world-class shopping and dining, and just steps away from a dedicated stop on the new Metro Silver Line, providing unmatched amenities that help make this trophy office tower incredibly desirable," said Tim Steffan, Senior Vice President, Asset Management and Commercial Leasing, Macerich. "Space remains available for just a few more businesses to locate at Tysons Tower."
The much-admired Tysons Tower earned LEED® Gold designation from the U.S. Green Building Council. LEED certification is the world's premier mark of achievement in green building. Designed for sustainability, Tysons Tower features a green roof, floor-to-ceiling windows and solar shades on the southern exposure to capitalize on natural sunlight for energy management.
Tysons Tower opens onto a 1.5-acre elevated Plaza that connects to the regionally dominant, 2 million-square-foot Tysons Corner Center mall, as well as the Tysons transit station on the new Metro Silver Line, which creates easy access to the property from across the Washington, D.C., region.
Macerich is [the] master developer of Tysons Corner Center. The development team for the new Tysons Tower included Hines (development manager), Gensler (architect), RTKL (master planner), Harvey-Cleary Builders (construction) and CBRE (leasing agent).
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 55 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from the Company's website: www.macerich.com
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Karen Maurer, Macerich, 602-708-6311, Website: http://www.macerich.com