Lowe and USAA Real Estate Complete Development of National Science Foundation Headquarters Building

Lowe now assumes management of the 700,000-square-foot Alexandria, Virginia facility

WASHINGTON--()--Lowe and USAA Real Estate have completed the development of the 19-story, 700,000-square-foot building for the General Services Administration (GSA), which will serve as the headquarters for the National Science Foundation (NSF). Lowe handled the development, and now provides the building’s management. The architecturally striking and technologically advanced building, at 2415 Eisenhower Avenue, is in the Carlyle / Eisenhower neighborhood of Alexandria, Virginia, and adjacent to the Eisenhower Avenue Metro Station.

“Today we will celebrate the impact that the National Science Foundation will have on our community- expected to generate $99 million annually in ongoing direct and indirect benefits for the City of Alexandria- and welcome NSF’s employees and visitors to our city”

The City of Alexandria was instrumental in bringing the NSF to the city by providing property tax incentives. Attracting the NSF has had the desired effect on the neighborhood, propelling additional private investment in new developments nearby, creating new jobs and revenue for Alexandria.

“The NSF headquarters is a model for modern office properties with sustainable design and energy conservation features along with flexible interiors that enhance productivity and lower cost of occupancy for the NSF. It also incorporates several technologies that were developed through research grants awarded by the agency. The success of this project is the result of the team approach taken by the NSF, GSA, City of Alexandria and the design build team led by Balfour Beatty Construction and WDG Architecture,” said Mark Rivers, executive vice president of Lowe. “Lowe and USAA Real Estate have partnered on several projects across the country, building an effective, collaborative working relationship that contributes to project success.”

Set on 2.03 acres, the NSF headquarters consists of two interconnected towers of 19 and 14 stories with 19,000 square feet of ground floor retail space and three levels of below-grade parking. It benefits from a prominent location directly across from the Metro Station.

“Completion of the National Science Foundation project represents another milestone in our successful relationship with Lowe,” stated Ben Christian, managing director of portfolio management for USAA Real Estate. "This development is consistent with our strategy to deliver best-in-class office buildings to mission critical agencies of the federal government. The research and educational initiatives of the NSF are vital and we look forward to a long relationship in support of their efforts.”

The NSF facility will house its staff as well as provide ample space for convening panels with outside experts who are the key component of the NSF’s program of evaluating and funding new technology research and development. There are 36 conference rooms, many of which are divisible, and all include virtual meeting capability allowing for superior, interactive audio visual presentations giving meeting attendees the option to participate from a remote location.

On-site amenities include a fitness center, health center, bike storage, electric vehicle charging stations and a cafeteria capable of satisfying the needs of the panelists during meetings, proving a significant cost savings over their previous practice of contract catering.

“Today we will celebrate the impact that the National Science Foundation will have on our community- expected to generate $99 million annually in ongoing direct and indirect benefits for the City of Alexandria- and welcome NSF’s employees and visitors to our city,” said Stephanie Landrum, president & CEO of the Alexandria Economic Development Partnership. “The city has already begun to see the benefits of hosting the federal government’s premiere scientific agency, through additional private investment and development in the neighborhood, and are proud to have partnered with USAA Real Estate and Lowe to deliver this catalyst mixed-use, transit orientated project.”

The NSF headquarters buildings were designed, constructed and will be managed using sustainable building practices designed to meet or exceed LEED Silver certification guidelines.

Lowe established its Washington, DC area office in 1980 and has been an active investor and developer of commercial real estate throughout the region. Among Lowe’s signature projects in the area is The Hepburn ultra-luxury apartments developed adjacent to the famed Washington Hilton Hotel where the firm completed a $150 million restoration, the Fort Totten Square mixed-use project, redevelopment of 1400 Crystal Drive office building in Crystal City, Virginia, The George apartment tower innovative redevelopment of a 45-year-old former office building in Wheaton, Maryland, and CityVista, a transformative mixed-use development in the Mount Vernon Triangle area of Washington DC. Lowe currently manages nearly three million square feet of commercial property in the Washington, DC area.

About Lowe

Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm. Over the past 45 years, it has developed, acquired or managed more than $28 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe is currently responsible for more than $8.5 billion of commercial, hospitality and residential assets and has more than $2 billion in commercial real estate projects in the pipeline or under development. It has more than 17,000 employees at Lowe and its affiliates, and manages approximately 17,500 hotel rooms worldwide. In addition to its Los Angeles headquarters, Lowe maintains regional offices in Southern California, Northern California, Denver, Philadelphia, Seattle, Raleigh, NC and Washington, DC. For more information visit www.Lowe-RE.com

About USAA Real Estate

USAA Real Estate, with approximately $18 billion in assets under management, provides co- investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit usrealco.com.

Contacts

Diehl Communications
Karen Diehl, 310-741-9097
karen@diehlcommunications.com

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Release Summary

Lowe and USAA Real Estate complete development of the new National Science Foundation headquarters, 700,000 square feet in Alexandria, Virginia