JBG has just announced that its major business tenant at the new Waterview project will be the Corporate Executive Board. The County's press release is as follows:


Arlington Announces Corporate Executive Board as Anchor Tenant for Waterview Development


2,500 New Jobs, $227-million investment is largest in Virginia

ARLINGTON, Va. - Governor Mark R. Warner today announced that the Corporate Executive Board (CEB), a premier research firm designed to assist companies with problem-solving strategy, will relocate its headquarters to Arlington.

The move will bring 2,500 new job opportunities with an average annual salary of $70,000, and spur the development of Waterview, a one-million-square-foot, mixed-use project featuring trophy office space, a boutique hotel and luxury condominiums. The project is being developed by The JBG Companies and Trizec Properties, Inc., and has been designed by the famed architectural firm of Pei Cobb Freed & Partners. The 20-year lease is the largest-ever private sector lease transaction to be executed in the Washington metropolitan area.

"Corporate Executive Board is a progressive organization with an unparalleled reputation as a superior resource to corporations worldwide," said Governor Warner. "The company's choice to move to Arlington County demonstrates the value they place on the region's strong and innovative workforce."

Jay McGonigle, Chairman and CEO of the Corporate Executive Board, said "As a high- growth company, long-term space planning is always a challenge. With this project, we have ensured that we have access to adequate growth space, and we are delighted that it allows us to make a long term commitment to the Washington, D.C., region."

Added Arlington County Board Chair Barbara Favola: "Arlington worked very hard to make this deal happen; it's a major win for the County, from both a business and a development perspective. Waterview is one of the most exciting projects to happen in the Washington, D.C., region in a long time, and firmly solidifies Arlington as the premier place for businesses to locate in the region."

Arlington is an urban, technologically savvy community adjacent to Washington, D.C., that is home to an array of high-profile high-tech firms, defense contractors, systems integrators and software developers. It has one of the most educated populations in the United States, with the highest average salary per capita of any jurisdiction in the region.

"More and more companies are looking to Arlington as a highly desirable location to do business, forgoing the sprawling, far-flung suburbs," said Terry Holzheimer, Director of Business Investment for Arlington Economic Development. "Arlington's successful, tech-savvy business community, its well-educated workforce, proximity to Washington, D.C., and its transit-oriented design, make it the clear choice for major investment from global companies like the Corporate Executive Board."

The CEB's new headquarters will be at the Waterview building, a high-profile, 2.16-acre site located at the foot of the Key Bridge in Arlington's Rosslyn submarket. Waterview will be comprised of two 300-ft. high towers. In addition to the 24-story office tower, the project will include a 28-story tower featuring 170 condominium residences and 155 hotel rooms. The buildings will be joined by a terrace at the fourth-floor level that will be home to a destination restaurant offering sweeping views of the Potomac River and the Nation's Capital.

Arlington will enjoy substantial benefits from the addition of the Corporate Executive Board. Total tax revenue will reach over $59 million over 10 years, with a community benefit of nearly $12 million. Real estate revenues alone will total $36.9 million over 10 years.

The Corporate Executive Board is the premier membership organization for senior executives of leading institutions worldwide to discover innovative strategies for addressing their most pressing challenges. Its dedicated membership programs focus on increasing the effectiveness of leaders within member organizations. The company provides a suite of services - best practices research, executive education and decision support tools - designed to accelerate the implementation of new strategies and to help members avoid reinventing the wheel as they address problems shared with their peers.

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Arlington, Virginia is a world-class residential, business, and tourist location in the country's most influential region, Washington D.C. Home to some of the most powerful organizations in the world, corporate leaders have made Arlington a hub for telecommunications, information technology, defense electronics and other industries. Arlington maintains a rich variety of stable neighborhoods, quality schools and enlightened land use, and was granted an award for its practices of "Smart Growth" by the Environmental Protection Agency in 2002. Arlington stands out as one of America's preeminent places for living, visiting and doing business.