Company enters agreement with Boston Properties to relocate to new headquarters facility, remaining in Reston Town Center
(Reston, Va.) January 30, 2018 -- Leidos (NYSE: LDOS), a FORTUNE 500® information technology, science, and engineering company, and Boston Properties, Inc. (NYSE: BXP), the largest public owner and developer of office buildings in the United States, announced today that Leidos will relocate its existing Reston headquarters into a newly constructed building within Reston Town Center to enhance employees’ work experience and consolidate operations. As part of this move, Leidos will be combining its Reston operations from two buildings into one. The company expects the new building to be ready by the first quarter of 2020.
The acquisition of Lockheed Martin’s IS&GS business expanded the Leidos domestic real estate footprint and provided the company with an opportunity to review its existing real estate portfolio. Leidos looked for a new headquarters facility that would improve operations, be more efficient, and ensure Leidos remains competitive in the market.
“We are thrilled to be developing and moving into a brand new headquarters. This will help us centralize Leidos employees in one exclusively-Leidos building, which will make our activities and operations as a company more collaborative and efficient,” said Leidos Chairman and Chief Executive Officer Roger Krone. “Our new space will give us the opportunity to build on our culture and brand as a combined company, as well as be able to better tailor our working environment to meet employee needs.”
Designed by renowned architect Shalom Baranes, the building includes underground parking, significant conference center facilities, and a distinct security perimeter among other features. The building will be the last office space built in the 86-acre Urban Core of Reston Town Center. Construction will begin in Spring of 2018.
“Boston Properties is incredibly honored that one of the most important corporate leaders in the Washington area has not only decided to retain its headquarters in Reston Town Center, but also has dramatically expanded its employee base over the past year. We look forward to continuing our partnership with Leidos for many years to come,” said Raymond Ritchey, Senior Executive Vice President with Boston Properties.
“Leidos is excited to create an office environment to increase flexibility, employee satisfaction, collaboration and performance through design excellence,” added Leidos Vice President and Head of Real Estate, Facilities & Workplace Services Rob Scott.
Katie Yanushonis, Vice President at Boston Properties, added: “We are confident that the new building will provide Leidos the appropriate platform to continue to recruit, retain, and motivate its world class employee base.”
Leidos was represented by Brian McMullan and Doug Seale with JLL, and Boston Properties was represented by Joe Ritchey with Prospective, Inc.
Leidos is a Fortune 500® science and technology solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company’s 32,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $7.04 billion for the fiscal year ended December 30, 2016. For more information, visit www.Leidos.com.
About Boston Properties
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 49.8 million square feet and consisting of 166 office properties (including seven properties under construction), five retail properties, five residential properties (including three properties under construction) and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC.