The Transportation Security AdministrationÂ will relocate its headquarters from Pentagon City in Arlington, Va. to the Victory Center Building in Alexandria after theÂ General Services AdministrationÂ secured a 15-year lease agreement with Eisenhower Real Estate Holdings.
GSA said WednesdayÂ the office space has an area ofÂ 625,000 rentable square feet with a rental rate of $36 per RSF and a utilization rate of $153 per usable square foot.
TSA aims toÂ fully occupy the Victory CenterÂ headquarters by spring 2018.
“The new lease agreement allows TSA to consolidate four locations into one at a rental rate and utilization rate that will ensure the agency is more efficient and effective in executing its mission,” saidÂ Darren Blue, commissioner of GSA’s Public Buildings Service for the National Capital Region.
GSAÂ added that the negotiated rental rate is at least 25 percent less than its projected market rents, while the negotiated utilization rate is at least 20 percent below the current rate at TSA.
JLL brokered the lease agreement, which also includes more than $50 million for tenant fit-out and transition costs as GSA eyes an efficient use of space and reduced water and energy consumption.