Tysons Corner, currently known better as Tysons, is located in Fairfax County in Northern Virginia along the Capital Beltway. The neighborhood lies within the Washington, D.C. Metro area and is home to two major shopping malls, Tysons Corner Center and Tysons Galleria. Tysons is the central business district of Fairfax County, and headquarters of big brands such as Intelsat, Gannett, Hilton Worldwide, Cvent, Freddie Mac, Capital One, and Booz Allen Hamilton can be found there.
Science and Technology research is thriving in this area, with companies like Space Adventures and Exelis making aerospace learning and development more accessible to the public. There are also quite a few Telecom and media companies in the area. Tysons is considered a city just outside of the big city, Washington D.C., so in addition to the Fortune 500s located here, it is a cheaper and more accessible option for startups.
By being situated in Northern Virginia, Tyson attracts employees from the DC and Baltimore metro areas. Although Tysons started as a quiet rural crossroads, this dense urban center is an ideal neighborhood for tourists and residents alike.
Tysons Corner Office Space│Lease Data & Trends
There are over 1.5 million square feet of office space under renovation in Tysons, all of which is Class A space. It is a growing tech hub and developers, of both real estate and infrastructure, realize the need to accommodate this growth. Tysons Corner has just under 23 million square feet of inventory, around 20% of which is vacant.
The 14 million square feet of Class A office space rents for about $42 per square foot. The remaining Class B and Class C office space usually leases for less than $30 per square foot. Tysons Corner has become an in-demand DC submarket in part due to its pre-existing infrastructure that has supported numerous IT and technology firms.
In addition to having well-known businesses as neighbors and the opportunity to network at events throughout the year, Tysons has co-working spaces and coffee shops where Engineers, Sales Professionals, and Content Writers (etc.) can find a spot to collaborate outside of the office.
What Our Brokers Say About Tysons Corner Space for Lease
Tysons has become a hub for fantastic for shopping, fine dining, and leisure. Ideally located along the east coast, this neighborhood has plenty of meeting space in hotels and unique venues. Getting to Capitol Hill or Downtown Washington D.C. takes less than 30 minutes by car and less than an hour by public transit, so Tyson residents can find adventure right around the corner while exploring the country’s most famous monuments.
This neighborhood functions more as a city centered around Technology and Telecom innovation. Tysons has a proper skyline and feels like a spacious downtown area rather than a suburb of the city. Raglan Road Park, Wildwood Park, and Westwood Country Club lie to the west of Tysons close to the neighborhood of Vienna.
Additional to the Telecom and IT companies in Tysons Corner, many retailers have found this to a be a prime location for business. Between everyday brands and luxury items, Tysons Corner Center and Tysons Galleria, shoppers can find anything they want or need. The grocery budget varies in Tysons with Giant, Safeway, Trader Joe’s, Whole Foods, and independent shops as options. For artisans, Tysons does have some space for those with eclectic taste, particularly at the Farmers Markets in central Tyson, Vienna, and McLean to the northeast. As Tysons Corner is unincorporated, it has no municipal government and companies often use postcodes from Vienna and McLean.
Getting Around Tysons Corner, VA
The Capital Beltway (Interstate 495) runs north to south through east Tysons, and the I-495/ VA 267 interchange is located in the northeastern part of the neighborhood. Traffic into Tysons is substantial; therefore developments are happening in rail infrastructure to support denser populations. The Washington Metro offers rapid transit, throughout the region and into Washington D.C. through its Silver Line Service. Development to extend the Silver Line services to the Washington Dulles International Airport is projected to be completed by 2020.
Tysons’s WalkScore is 48, with a transit score of 53, leaving residents to be mostly dependent upon cars but not stranded without one. The most walkable spots in Tysons are North Central, Old Courthouse, and Eastside. The area is fairly spread out, and the nightlife is not the highlight of this town. Most of the hustle and bustle is centered around commuting hours. Companies will typically have parking for their employees.
Tyson Corner Neighborhood & History
Up until the 1950s, much of Tysons Corner was still a rural intersection with a few small stores and a fruit stand on the corner (that happened to be operated by Mr. Tyson himself). With the development of Route 7 and Route 23 came the construction of commercial centers; at the time developers proclaimed Tysons Corner Shopping Center (now Tysons Corner Center) the largest enclosed mall in the world.
The recent influx of Tech companies is responsible for the fast growth of this neighborhood compared to others along the Capital Beltway. Tysons Corner holds a quarter of the office space and one eight of the retail of Fairfax County. The Fairfax County Board of Supervisors voted in 2008 to commence a 40-year plan to modernize and urbanize Tysons to become a high-density downtown hub. In 2014, the neighborhood underwent a sort of rebranding when Board Supervisors decided to drop the word “Corner” in Tysons Corner, making Tysons the area known as simply “Tysons.”