SAIC | Leidos
Project Type: HQ Asset Value Maximization, Disposition
Space Use: Office, SCIF, Lab, Event, Meeting
Location: McLean, VA & Reston, VA
Project Size: 300,000 SF
Services Provided: Asset Value Maximization Strategy, Zoning & Entitlements, Disposition
SAIC engaged JM Zell to explore creative ways to maximize and monetize the real estate value of its global office headquarters in Tysons Corner, VA. After thorough analysis, JM Zell developed a strategy to increase development rights for a Metro-accessible mixed-use development. JM Zell worked closely with SAIC leadership to gain consensus to implement the strategy which involved overseeing master planning, obtaining zoning and entitlements, and negotiating a sale-leaseback to maximize projected sale proceeds and increase marketability to potential purchasers.
In conjunction with implementing the strategy, JM Zell identified the ideal purchaser who would provide the maximum acquisition price for all value maximization activities. Additionally, during the disposition process, SAIC split into two publicly traded entities, SAIC and Leidos, whereby JM Zell reshaped the transaction to meet the shifting needs of the new entities while continuing to maximize the value of the asset to the economic benefit of our client.
JM Zell’s diverse expertise and agility were instrumental in maintaining leverage in maximizing value. Additionally, JM Zell’s holistic approach enabled the client to maintain a single point of contact, key to obtaining leadership consensus for this complex project.
Post disposition, JM Zell oversaw the completion of the zoning and entitlement processes, and relocation of Leidos to its new headquarters in Reston Town Center, Virginia.
The former SAIC headquarters site is now a thriving mixed-use community with office, multi-family residential, and retail components adjacent to Metro and other public transportation.
If you are interested in learning more about how JM Zell can assist you in achieving your business and operations goals through real estate, please contact us here.