Avison Young has successfully negotiated a long-term lease renewal for Alarm.com, securing 189,000 square feet of space and adding an additional 57,000 square feet at The Boro in Tysons. This brings the total footprint for Alarm.com’s headquarters to over 245,000 square feet at their location on Greensboro Drive in Tysons, Virginia.
As part of the deal, Alarm.com will become the sole tenant of the building and plans to complete improvements by mid-year 2025. In a market where downsizing is common, this expansion represents one of Northern Virginia’s largest lease transactions in 2024.
The negotiations were led by Bill Evans from Avison Young’s Tysons office representing Alarm.com and Terry Reiley from CBRE representing The Meridian Group (TMG), who owns the building.
Governor Glenn Youngkin commented on this transaction saying that it showcases how Virginia’s business environment provides growth opportunities for all companies and solidifies its position as America’s top state for business.
According to Evans: “The successful outcome was made possible through two years of collaboration between all parties involved -Alarm.com , Avison Young , TMG ,and Starwood Capital- resulting in a win-win solution.”
