Fairfax County Economic Development Authority News and Updates

Fairfax County Properties Top Washington Business Journal’s Best Real Estate Deals of 2023

Two Fairfax County-based properties have been recognized as the top real estate deals of 2023 by the Washington Business Journal. Plaza East in Chantilly, leased by Arcfield, was named the “Best Virginia Lease of the Year.” Arcfield, a provider of systems engineering and integration capabilities to government agencies, secured a 124,400 square-foot lease at Plaza East. Additionally, Liberty Crossing I and II in McLean were awarded the title of “Best Virginia Sale” for fetching over $530 million in combined sales.

MITRE, a key supplier to the Pentagon and U.S. intelligence agencies, is collaborating with NVIDIA to build a $20 million supercomputer in Ashburn, Virginia. This supercomputer aims to accelerate the deployment of artificial intelligence capabilities across the federal government, with a focus on improving efficiency in various sectors such as Medicare and taxes.

The next Accelerate Breakfast Pitch event, presented by Fairfax County and George Mason University, is set for July 19 at MITRE in Tysons. This event provides a platform for entrepreneurs to pitch their business models to investors and secure seed funding. Applications are currently open for companies in high-growth, innovation, and technology sectors across Virginia, D.C., and Maryland.

Fairfax County continues to strengthen its position as a hub for tech industries, particularly in the field of Artificial Intelligence. With companies like MITRE establishing AI research institutes and global AI firms showing interest in the region, Fairfax County is at the epicenter of the global AI revolution.

In other news, Mars, the largest private company in Greater Washington, is in talks to acquire two veterinary diagnostics businesses in Europe. Comstock, a commercial real estate firm based in Reston, is experiencing rapid growth in its parking management segment. Additionally, developer Cityline Partners has received approval to construct a dual-branded Hilton hotel in Tysons.

Overall, Fairfax County’s economic development efforts are driving innovation, investment, and growth in the region, making it a prime destination for businesses looking to expand and thrive.