American Real Estate Partners And AMT - The Association For Manufacturing Technology Form JV For Development Of $100 Million Tysons Office Tower
HERNDON, Va., Dec. 2, 2013 /PRNewswire/ -- American Real Estate Partners and AMT - The Association For Manufacturing Technology today announced a joint venture to develop 7901 Westpark Drive, a 10-story, $100 million, trophy office tower totaling 200,000 square feet, anchoring the Arbor Row master planned district of Tysons, VA.
Designed by KGD Architecture, 7901 Westpark will stand prominently at the intersection of Westpark Drive and Galleria Drive, one block from the Tysons Corner Silver Line station and overlooking the Beltway and the new 495 Express Lanes. The signature glass curtain wall tower will afford soaring views of Northern Virginia and is being designed to LEED Gold standards. Groundbreaking is anticipated in the fourth quarter of 2014.
"We are delighted to be partnering with AMT on what will be one of the most visible and best located office developments in Tysons Corner," said American Real Estate Partners President, Brian Katz. "7901 Westpark will add dramatically to the Tysons skyline and will bring to this market the type of world-class architecture and amenities sought by leading Washington associations and companies."
American Real Estate Partners CEO, Doug Fleit, added, "Tysons has already become the strongest and most amenity rich office location in Northern Virginia. With our project's location next to the Metro and adjacent to the HOT Lanes, 7901 Westpark will be the most desirable office building in the market."
"AMT is excited to partner with American Real Estate Partners in the development of our future offices," said AMT Vice President of Business Development, Jeff Traver. "American Real Estate Partners has unparalleled expertise with investment quality assets in the Washington area." AMT's offices are currently in the existing 7901 Westpark building, which will be demolished to make way for the new building. The association is expected to occupy approximately 30,000 square feet in the new building.
7901 Westpark will provide its tenants with a 200-seat conference center, complete with breakout rooms and state-of-the-art AV support. A rooftop terrace expands on the 360-degree views from the building and the ground floor provides both a fitness center and cafe space.
About American Real Estate Partners
American Real Estate Partners, one of the most experienced real estate operating platforms in the United States, concentrates on commercial real estate assets and real estate financial instruments in markets along the Eastern Seaboard of the United States, including Washington, D.C., Virginia, Maryland, Raleigh-Durham, Florida, New Jersey and New York. The firm's current holdings total approximately 5.2 million square feet of Class A office, flex and industrial assets. More information about American Real Estate Partners can be found at www.americanrepartners.com.
About AMT – The Association For Manufacturing Technology
AMT - The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members—those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow's Smartforce. AMT owns and manages IMTS — The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America. www.AMTonline.org.
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SOURCE American Real Estate Partners