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SAIC to Sell, Lease Back Tysons Corner HQ Campus

SAIC to Sell, Lease Back Tysons Corner HQ Campus - top government contractors - best government contracting event

SAIC Logo_ExecutiveBizScience Applications International Corp. has agreed to sell its headquarters campus in Tysons Corner, Va. and lease back one of the three buildings there as its new headquarters, the Washington Post reports.

Marjorie Censer writes SAIC will lease that building for up to seven years and the other two buildings until the company splits into two public companies.

Citing an Securities and Exchange Commission filing, Censer reports SAIC expects to close the transaction in June.

According to the report, an SAIC subsidiary agreed to sell the 18 acres of land that includes four office buildings encompassing 900,000 square feet, a parking garage and surface parking lots.

The company values the initial purchase price of three buildings and the leases back to SAIC at around $85 million, the Post reports.

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Written by Ross Wilkers

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