ARLINGTON, Va., July 21, 2014 /PRNewswire/ -- CEB (NYSE: CEB) today announced that it has signed an Agreement to lease approximately 350,000 square feet of space in The JBG Companies' new Central Place development in Rosslyn, VA. CEB will be the marquee tenant in the building to be named "CEB Tower." The property will support the company's next-generation workplace plans and accommodate its growing global requirements. CEB plans to move to its new global headquarters in 2018.
"Today's announcement reflects confidence in CEB's strategy and continued financial success made possible by the strength of our business model, the passion of our staff and our impact on our members' businesses," said Tom Monahan, CEB Chairman and CEO. "It also reflects our commitment both to capturing economic leverage from our continued growth and to equipping our current and future employees with the workspace and tools they need to thrive. Our new headquarters will reinforce the strength and reach of our brand and our focus on Virginia and the National Capital Region as a home for, and source of, world-class talent."
Virginia Governor Terry McAuliffe said, "Virginia has proudly served as home to CEB since its move from the District in 2008. A new global headquarters and investment of this magnitude are tremendous testaments to the confidence the company has in Arlington County and the Commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century. As the marquee tenant of CEB Tower, the company will gain further brand prominence and be associated with a state-of-the-art property near our nation's capital. We celebrate this impressive global headquarters operation and 800 new jobs, and look forward to CEB's continued success in Virginia for years to come."
"As we engaged in multi-year financial, workforce and real estate planning, it became clear that this move represented a rare opportunity to secure state-of-the-art space for our growing employee population while realizing attractive economic leverage. Beyond pure economics, employee engagement and productivity were key considerations in our CEB Tower decision," Monahan added. "We wanted to ensure that our team would have access to all the tools they needed to do their jobs and to collaborate effectively with their colleagues across our 50+ offices on six continents."
CEB Tower will associate the CEB brand with the landmark Central Place, a trophy, mixed-use complex being developed by The JBG Companies, in one of the most dynamic commercial areas in the world. The state-of-the-art facility will offer the technology and physical footprint for optimal knowledge-work collaboration and employee productivity. The space design will capitalize on emerging workplace strategies surfaced through CEB's own management insights and leveraging the same guidance the company provides its members. Employee feedback will be a critical component of the build and will inform the creation of communal space, global connectivity needs and flexible seating arrangements.
CEB will initially occupy 15 floors within CEB Tower, located at 1201 Wilson Boulevard, including office space and conference space to facilitate the hundreds of executive leadership events the company hosts annually. The location offers excellent proximity to international travel hubs, supporting CEB's increasingly global presence, and is steps from local public transportation. The facility will also include ample bike and car parking for commuters. CEB Tower will also include a panoramic observation deck for visitors to the Washington, DC region.
"This Agreement would not have been possible without the exceptional partnership of the Commonwealth and Arlington County," Monahan continued. "The Governor's office and our local government representatives clearly demonstrated why Virginia is a great state for business. Under their leadership, we are confident in Arlington's future as a business hub and thrilled to be a landmark business in—and significant economic contributor to—the Rosslyn community. While it's too early to size precisely the economic impact for 2018 and beyond, their partnership and leadership notably support our strategy for continued growth and margin expansion."
The Virginia Economic Development Partnership worked with Arlington Economic Development to secure the project for Virginia. Governor McAuliffe approved a $4.5 million grant from the Governor's Opportunity Fund to assist Arlington County with the project. The Governor also approved $5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment, training and retraining activities.
"Today's announcement exemplifies exactly how Arlington is diligently working with our businesses to provide them with an ideal environment in which to expand and succeed in today's marketplace," said Arlington County Manager Barbara Donnellan. "Arlington is embracing the innovations needed to ensure our economic competitiveness today and into the future."
"We are very excited to have CEB sign on for the new CEB Tower," said Andy VanHorn, a JBG Principal. "We've landed a world-class tenant that will help us realize the complete vision for Central Place as a thriving mixed-use development that creates a new sense of community in Rosslyn. It's a win not only for JBG and CEB, but also for Arlington and all of Virginia."
CEB, the leading member-based advisory company, equips more than 10,000 organizations around the globe with insights, tools, and actionable solutions to transform enterprise performance. By combining advanced research and analytics with best practices from member companies, CEB helps leaders realize outsized returns by more effectively managing talent, information, customers, and risk. Member companies include nearly 90% of the Fortune 500, more than 75% of the Dow Jones Asian Titans, and 85% of the FTSE 100. More at cebglobal.com.
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