The Arlington government’s economic-development office will be staying put for at least the next dozen years, and taxpayers will reap some savings in the bargain.
County Board members have approved a revised lease for Arlington Economic Development to occupy 16,115 square feet of office space (with an additional 160 square feet of storage) at 1100 North Glebe Road through 2034. The current lease was set to expire next January.
As part of the deal, base rent will fall to $42.50 per square foot per year, then increase by 2.5 percent per year through the life of the contract. Also as part of the agreement, Arlington will receive free rent from February 2022 to January 2023, and also will receive a $1.13 million improvement allowance from the landlord.
County staff explored moving Arlington Economic Development to another space (either owned by the county or rented), but determined staying in place was the better option. Also considered was reducing the amount of square footage occupied in the current facility, but staff determined it was “impractical” to do so, despite the prospect of more work-from-home options for staff.