July 25, 2023 9:00 AM
Newmark today announced robust leasing success at Lookout, a class-A office property owned and operated by BoundTrain Real Estate at 6400-6402 Arlington Boulevard, Falls Church, VA. Over the past 24 months, Newmark has welcomed 12 new tenants and leased over 175,000 square feet of prime office space across the two-tower campus, underscoring the property’s unparalleled repositioning and great location for technology, government contractors, medical and professional service firms as a top choice for businesses in the region. Newmark’s Executive Managing Director Andy Klaff and Associate Directors Dominic Orcino and Nicholas Dichiara are the exclusive leasing agents on the assets.
Lookout’s leasing success is primarily attributed to the property’s transformative $12 million renovation, completed in 2021. These extensive upgrades include new lobbies, a world-class conference center, spec suites, fitness center and a tenant lounge with panoramic views on the top floor of 6400 Arlington Boulevard, a golf simulator, a pool table and a galley with food/beverage options.
“In this uncertain real estate market, it is refreshing when owners, like BoundTrain, invest into their successful projects to enhance the tenant experience and differentiate themselves from the competition,” said Klaff. “With the completion of several recent transactions, BoundTrain has firmly demonstrated its support of the Lookout tenants and their leasing representatives and is in a great position to secure future leases at the property.”
The most notable recent transactions include a 6,893-square-foot renewal for Northern Virginia Therapeutic School and a 4,479-square-foot expansion and extension for Falls Church Therapy Associates. Inova Health System expanded and renewed for 35,000 square feet. Other tenants with active, long-term lease agreements include leading prop-tech platform Kastle Systems, which will be moving into the newly constructed 62,000-square-foot space later this summer, the Potomac Legal Aid Society, and the governmental technology company Enabled Intelligence.
Tenants of the Lookout at 6400 campus also enjoy an unmatched location and robust transit options. This includes more than 570,000 square feet of retail just a short walk away, an on-site WMATA bus station and shuttle service to East Falls Church Metro station.
“Despite the pandemic and return-to-office challenges, Lookout continues to outperform by focusing on the unique needs of each of our tenants,” said Michael Klein, Managing Principal at BoundTrain Real Estate. “We had an excellent business plan and, with the help of Newmark, executed the strategy despite headwinds. We’ve ramped up our renovation investment in the property to further enhance the tenant experience. Furthermore, we pride ourselves in responding quickly to prospective tenants, which will help us to continue adding high-quality tenants to the property.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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