Northern Virginia

Tamares & Atlantic Realty Companies Sign Loan Extension For Plaza America Buildings; Property Undergoes Multi-Million Dollar Renovation Program

Northern Virginia
December 12 4 min read

TYSONS, VA – December 11, 2023 – Tamares Group and Atlantic Realty Companies today announced that they have signed a loan extension for Towers 3 & 4 at Plaza America, which are part of a four-building, 965,000-square-foot office complex located at 11700, 11710, 11720, and 11730 Plaza America Drive in Reston, VA. Ownership is committed to gaining traction in the marketplace, and have invested heavily in a capital improvement program aimed at attracting top-notch tenants seeking a world-class, collaborative business environment. Stream Realty Partners handles leasing efforts for the office campus.

“We are pleased to have closed on the loan extension,” said Itrat Sayeed, Managing Director with Tamares Group. “We are committed to the asset and hope that our repositioning strategy demonstrates our dedication to creating the best workplace experience imaginable for existing and future tenants.”

Nestled in the heart of the Dulles Corridor, Plaza America provides a high-quality tenant lifestyle through its first-class image and host of on-site amenities. Current amenities exclusive for tenants include a shuttle to nearby Metrorail stations, a fitness center equipped with showers and locker rooms, casual and fine dining options (including Noodles + Company, Melting Pot, and Nikko Sushi + Hibachi), and ample landscaped outdoor space with gardens and patio seating. The property also features new pickleball, tennis, and basketball courts, and is adjacent to the W&OD trail system.

Planned renovations are slated for completion in mid-year 2024, and will feature a new lobby, conference center, and lounge in Tower 3, as well as numerous spec suites. Tower 4 will showcase a Town Hall concept and spec suite program. Towers 1 & 2 will undergo minor renovations, including new spec suites and space refreshes. The design program is being handled by Gensler, who also led the high-end renovation program at nearby Valo Park in Tysons.

“Companies occupying space in Plaza America have historically enjoyed its unparalleled access and walkable retail amenities,” said David Ross, Partner & President of Atlantic Realty Companies. “Our robust improvement plan will further contribute to enhancing the quality of our corporate environment, as well as provide great value for companies seeking a highly visible and accessible location in the Dulles Corridor.”

Stream, a national commercial real estate firm offering an integrated platform of services, has a growing office in Northern Virginia that currently leases and manages more than 8 million square feet of office space in the region. Co-Managing Directors Jeff Roman and Erik McLaughlin, Executive Vice Presidents Carter Byrnes and Malcolm Schweiker, Vice President Ashley Elkin, and Senior Associate Jaclyn Purzycki handle leasing for the Plaza America office towers.

“With such committed ownership, Plaza America will continue to drive momentum in the marketplace by taking amenities to the next level,” said Stream’s Roman. “We’re excited to see the renovations come to completion in mid-2024, which will most certainly help us in our leasing efforts.”

Located minutes from the Reston Town Center along the Dulles Toll Road, Plaza America offers a location that is second-to-none, with immediate proximity to a diverse mix of retail options, a strategic roadway system for streamlined access in and out of the park, and highly visible Toll Road signage opportunities. The property is also directly adjacent to the Plaza America Shopping Center, which includes CVS, Five Guys, Gold’s Gym, Loft, Michael’s, Starbucks, UPS, and a major health food market, among others.

Plaza America can accommodate boutique office users needing 1,500 square feet as well as multi-floor corporate users. For more information, please visit Plaza America’s website, or reach out to Stream Northern Virginia at 703.997.2200.

About Tamares Group

Tamares Group is a private real estate investment company with a $3 billion portfolio. The portfolio includes iconic holdings in New York’s Times Square, London’s Mayfair, Northern Virginia and Las Vegas, NV encompassing approximately 3.3 million square feet of commercial and hospitality space. As a private, family-owned business, the firm has a value driven investment strategy. Through its small dedicated team, Tamares strategically identifies investments, improves operations and takes a patient view that seeks to maximize long-term value. For additional information, visit www.tamares.com.

About Atlantic Realty Companies

Headquartered in Vienna, Virginia, Atlantic Realty Companies is a full-service commercial real estate development and investment firm with a diversified range of assets including mixed-use commercial office, retail shopping centers and multi-family residential development. The corporate portfolio contains more than 5.5 million square feet of space and is situated throughout Northern Virginia, Maryland, and Delaware. Asset and property management services are provided through its affiliate company, ARC Management, LLC, which maintains regional offices in Reston and Baltimore. For additional information, visit www.arcrealty.com.

About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of services including leasing, Legendary CX property management, tenant and landlord representation, capital markets, investment management and sales, development, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas and operates 15 core offices in markets that cover areas including Alexandria, VA; Arlington, VA; Atlanta; Austin; Boca Raton; Charleston; Charlotte; Chicago; Colorado Springs; Dallas; Denver; Fort Lauderdale; Fort Worth; Greenville, SC; Houston; the Inland Empire; Irvine; Los Angeles; Miami; Nashville; Orange County; Phoenix; Raleigh-Durham; Reston, VA; San Antonio; Tysons; Washington, D.C.; and West Palm Beach. Since 1996, Stream has grown to more than 1,350 professionals and now completes more than $6.9 billion annually in office, industrial, retail, healthcare, land, and data center transactions. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, Twitter, and Facebook.

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