Falls Church, VA | June 1, 2022
MOB is Part of Larger West Falls Church Economic Development Project, a Mixed-Use Development that will Span 10 Acres
Trammell Crow Company (TCC), the nation’s largest commercial real estate developer, and JV partner Diamond Realty Investments have broken ground on a 125,000-square-foot medical office building dubbed The Wellness Center at West Falls. The six-story building, slated to deliver in late 2023, is part of the West Falls mixed-use development that will include 1.2+ million square feet of medical office space, retail, senior housing, apartments, condominiums, a hotel, structured parking, and up to an acre of open space. Hoffman & Associates is the master-developer for the larger West Falls project.
“We are pleased to be working with such great partners to bring this exciting West Falls development to life. This will be the largest mixed-use development in Falls Church, adding to the area’s dynamic growth as a business hub,” said Ben Schon, Vice President with TCC’s MidAtlantic office. “With the average age of medical office buildings in the I-395 North submarket being more than 40 years old, the brand-new facility we are developing as part of Phase 1 will help meet the demand for Class-A outpatient space in this area.”
David Richards, Senior Vice President with Diamond Realty Investments, continued, “our company is excited to continue its expansion into the medical office sector with this unique project. We believe The Wellness Center will add to the quality of life for the residents of Falls Church.”
The Wellness Center at West Falls has been designed specifically for medical users with the ability to accommodate clinical and surgical requirements for healthcare systems, specialty practice groups and independent practitioners. The building will feature dedicated curbside patient pick-up and drop-off at the building lobby, along with a covered parking garage that is connected to the building via a pedestrian-friendly street. Users will also have a premier opportunity for signage and branding on the ground floor and on the top floor, given the property’s location on a major throughfare.
The medical office building has been designed by Gensler and Clark Construction Group is the project’s general contractor. Cushman & Wakefield will be handling leasing for the building.
About Diamond Realty Investments
Diamond Realty Investments is a national leader in the investment and development of Multifamily, Student Housing, Senior Housing, Medical Office and Industrial real estate properties. Specializing in joint venture partnerships, Diamond Realty is the real estate investment arm of Mitsubishi Corporation and has invested in nearly 200 Multifamily, Student Housing, Senior Housing, Medical Office and Industrial properties with a total acquisition and development cost surpassing $11 billion. For more than 30 years, Diamond Realty has partnered with the nation’s leading developers to create best in class Housing and working environments. As we enter our fourth decade of real estate investment, we invite you to join us as a long-term joint venture partner as we seek to expand our development and investment portfolios. Visit DiamondRealtyInvestments.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is a global commercial real estate developer having developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of March 31, 2022, TCC had $19.8 billion of projects in process and $10.1 billion in its pipeline. It employs 700 professionals throughout the United States and Europe.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit www.TrammellCrow.com.
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