BAE Systems Inc. is moving its headquarters to Falls Church as part of a consolidation of its Northern Virginia office space.
The defense contractor — a subsidiary of U.K.-based aerospace and defense giant BAE Systems PLC — has signed a lease at 2941 Fairview Park Drive and plans to move about 350 employees there in the summer of 2020.
The Washington Business Journal first reported in April that BAE was mulling taking space in Fairview Park and that, with some leases set to expire, it was looking at a range of real estate possibilities, such as renewing leases, relocating to other sites or both. Its current headquarters is on Wilson Boulevard in Rosslyn.
BAE says the new headquarters will drive greater efficiencies for the company and offer enhanced collaboration opportunities for employees.
The move will also further ding Arlington County’s office vacancy rate, which at the end of 2017 was 20.6 percent, according to an analysis of Greater Washington jurisdictions by the Metropolitan…Read the full story from the Washington Business Journal.