[Crystal Palace: Gannett tower on the left, USA Today's on the right]
When Octagon, a sports and entertainment marketing firm, moves in this fall, the glass-skinned complex at Tysons Corner will house five other companies occupying about 12% of the 820,000 square feet there, according to a Washington Post story today.
The Post says Corporate has been "aggressively" marketing vacant space in the building, which it occupied with USA Today in 2001, after the company moved 10 miles northwest from Rosslyn, Va.
Full-service annual rents in Northern Virginia averaged about $31 a square foot in the fourth quarter, the Post says, citing figure from brokerage firm Cassidy Turley. That means Corporate's subtenants are bringing in more than $3 million in additional annual revenue.
Across the nation, Gannett has been reducing its real estate holdings as the company shrinks operations with declining revenue and profit. Just last month, The Des Moines Register said it was planning to leave its century-old 200,000 square-foot building downtown. The paper needs only half that space now.