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News release

ARLINGTON, VA

Construction Underway at 4040 Wilson Boulevard

The Shooshan Company Breaks Ground on Final Phase of Liberty Center


ARLINGTON, Va., April 14, 2014 – Today, The Shooshan Company announced the start of construction of the garage for 4040 Wilson Boulevard, its joint venture project with Brandywine Realty Trust.  This project represents the eighth and final phase of The Shooshan Company’s award-winning Liberty Center mixed-use development.  Pre-leasing efforts will continue as the project completes the five-level, 550-space parking garage structure by the end of the year.   

4040 Wilson Boulevard will be a 20-story, 426,900-square-foot office building, boasting an unprecedented single-tenant, eight-percent core factor, LEED Gold Certification and amazing views of the nation’s capital from the upper floors.  Clark Construction has been selected as the general contractor for the project, which is expected to deliver in the summer of 2016.

"We are thrilled to be moving forward with this project starting with the garage construction. As we continue the office component pre-leasing efforts, we are confident that the project will be extremely attractive to tenants seeking large blocks of efficient, quality office space in the Rosslyn Ballston Corridor," said John Shooshan, President, The Shooshan Company.  “Liberty Center is a project that we have been focused on for over 15 years, and 4040 Wilson is the crown jewel of this development. By starting the garage portion of the project at this time, we can advance the project in taking approximately 11 months off the 25-month construction schedule while we continue to respond to the increased tenant interest we have experienced in recent months.”

Liberty Center totals 2.25 million square feet of office, retail and residential space and will serve over 7,000 people who live, work and shop in the urban center. The eight-building project features:

  • Four office towers — including the GSA headquarters for DARPA and the Office of Naval Research
  • 500 apartments, including The View, a 257-unit building that delivered in the first quarter of 2014
  • 235 condominiums at The Residences at Liberty Center 
  • 183 rooms at the Residence Inn by Marriott
  • 50,000 square feet of underlying retail
  • The new Mosaic Park, a 2.5-acre active park that will be completed simultaneously with the delivery of 4040 Wilson Boulevard

Liberty Center South is also a pilot project for the U.S. Green Building Council’s LEED for Neighborhood Development and is Arlington County’s first ever LEED Gold Neighborhood Development.  The LEED for Neighborhood Development rating system integrates the principles of smart growth, urbanism and green building into the first national system for neighborhood design.

The 50,000 square feet of retail and restaurant amenities include Rustico Restaurant and Bar, Sweetgreen, Bruegger’s Bagels, Buzz Bakery, HSBC Bank and Navy Federal Credit Union. Taylor Gourmet and Kapnos Taverna, Top Chef Mike Isabella's latest restaurant offering, will open in The View in 2014. 

Located just three miles from downtown Washington, 4040 Wilson Boulevard is within walking distance to the Ballston Metro Station (Orange Line) and will offer easy access to major highways and access roads including I-66, the George Washington Memorial Parkway and Routes 50, 29, 110 and 27.  The property is also within three miles of the Pentagon, four miles from Reagan National Airport and eight miles from Tysons Corner.

Managing Directors Herb Mansinne and Bob VeShancey and Senior Vice President David Goldstein from JLL are leading the team marketing 4040 Wilson Boulevard.

ABOUT THE SHOOHAN COMPANY
The Shooshan Company is a privately owned real estate investor and full-service development firm based in Arlington, Virginia, with an experienced team of real estate professionals skilled in development, design, construction, marketing, leasing, property management, investment and finance. The Shooshan Company’s local market knowledge, refined financial analysis and successful project management practices make the company uniquely qualified to deliver unparalleled service and award-winning projects.

For over 28 years, The Shooshan Company has been an area leader in delivering successful real estate projects from small, unencumbered sites to large, complex, mixed-use developments while upholding the company’s core values of integrity, trust and respect.  By working very closely with others in the Northern Virginia community, The Shooshan Company has been able to draw upon strong, long-standing relationships to create value-added, smart growth projects which enhance the live, work, learn and play environment of residential buyers, retail consumers and commercial tenants.

Since the Company was founded in 1986 by John G. Shooshan (President), The Shooshan Company has planned, developed, leased and managed a portfolio of approximately three million square feet of high-quality mixed-use real estate.\

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.