Commercial satellite services provider Intelsat has tentatively agreed to relocate its U.S. headquarters from the District to Tysons Corner, where it would be the first tenant to occupy an office project being built by Macerich, according to sources close to the deal.
The sources spoke on the condition of anonymity because they were not authorized by Macerich or Intelsat to disclose the agreement.
Intelsat spokesman Alex Horwitz declined comment. Macerich’s Tim Steffan, senior vice president of property management, would not discuss whether Intelsat had made an initial commitment. “We have no deals on the table,” he said.
Intelsat is based in Luxembourg, but its American operations are currently headquartered at 3400 International Dr. NW, off of Connecticut Avenue NW in the District’s Van Ness neighborhood.
It owned the building until August, when it sold the property to New York-based 601 W Cos. for $85 million. It has been leasing the building while considering other locations and engaging local governments interested in facilitating a deal.
Intelsat’s relocation would mark a major coup for the Santa Monica, Calif.-based developer, whose specialties are malls and shopping centers. Macerich has long owned Tysons Corner Center, one of the largest malls and most highly trafficked malls in the United States.
With a Silver Line Metro station under construction in close proximity to the mall, Macerich and its financial partner, the Alaska Permanent Fund, opted to aggressively begin developing property it owns adjacent to the mall. In July it began construction of new apartments, a hotel and the office building, Tysons Tower. When completed in 2014, the more than $500 million project would be the largest mixed-use complex in Tysons Corner, comprising 1.4 million square feet.