Transforming an Obsolete Office Campus into a Transit-Oriented Residential Community

Vienna, Virginia

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PROJECT OVERVIEW

Cohn Property Group (CPG) is proud to announce the closing of the second phase of the Hunters Branch redevelopment, consisting of the sale of a 3-acre portion of the larger 14-acre mixed-use redevelopment site located directly behind the Vienna Metro Station in Fairfax County, Virginia.

The parcel will be developed by Toll Brothers into 76 “2-over-2” stacked townhomes, forming the for-sale residential component of the broader Hunters Branch community. This project will complement Insight Property Group’s planned 476-unit multifamily development, together creating a vibrant transit-oriented residential neighborhood in one of Northern Virginia’s most supply-constrained housing markets.

Property Background

Hunters Branch was originally developed as a 465,000 square foot suburban office campus consisting of two office towers and two structured parking decks situated on approximately 14 acres.

For nearly three decades, the property served as the headquarters of ICF International, a global consulting firm. In 2022, ICF relocated its headquarters to Reston, leaving the campus vacant and raising uncertainty about the future of the property.

Like many large suburban office campuses across Northern Virginia, the complex faced
significant headwinds as the office market shifted and demand for large single-tenant office spaces declined. However, the property’s prime location near the Vienna Metro Station and major transportation corridors positioned it as a compelling candidate for residential redevelopment in a region experiencing a severe housing shortage.

Acquisition Strategy

CPG sourced the Hunters Branch opportunity off-market from the lender who had recently foreclosed on the property and represented Insight Property Group in the acquisition of the entire 14-acre office park.

Working closely with Insight, CPG helped structure a creative acquisition framework designed to balance risk and certainty for both parties. The agreement incorporated a series of non-refundable deposits tied to milestones throughout the entitlement and approval process, providing the seller with confidence in closing while allowing Insight the time necessary to navigate Fairfax County’s complex and often unpredictable development approval process.

Insight ultimately elected to close on the acquisition at zoning without entitlements or
construction permits, assuming substantial entitlement risk. The full process—from contract execution through approvals and closing—took just over one year.

Development and Land Strategy

Once Insight had secured control of the site, CPG was retained as the exclusive broker for the disposition of a 3-acre portion of the site that would ultimately become the for-sale residential component of the master-planned redevelopment.

CPG’s deep understanding of the homebuilding development process and extensive experience in residential land brokerage throughout Fairfax County proved integral to maximizing the value of the excess land and identifying the right development partner. By leveraging strong relationships with leading homebuilders and a nuanced understanding of local development dynamics, CPG was able to select a partner capable of executing the project successfully while ensuring the long-term viability of the broader Hunters Branch redevelopment.

Following a targeted marketing effort, Toll Brothers was selected to acquire and develop the site into 76 stacked townhomes, providing a complementary housing product to Insight’s multifamily development and helping create a balanced residential community.

The sale of this parcel was a key component of Insight’s overall development strategy, as it significantly reduced the developer’s land basis and enhanced the financial feasibility of the larger project.

Market Context

Fairfax County and the broader Northern Virginia region continue to face a significant shortage of new housing supply, particularly in transit-oriented locations with strong access to employment centers and infrastructure.

At the same time, structural changes in the office market have created opportunities to repurpose aging suburban office assets into residential communities, unlocking higher and better uses for properties that no longer meet modern office demand.

The Hunters Branch redevelopment represents a clear example of this transformation—converting an obsolete office campus into a vibrant, transit-oriented residential neighborhood in one of the region’s most desirable submarkets.

CPG’s Role

CPG’s involvement in the Hunters Branch project demonstrates the firm’s ability to bridge the gap between investment sales and development advisory.

By leveraging deep relationships with both institutional developers and national homebuilders, CPG was able to:

• Source the acquisition opportunity off-market
• Structure a creative transaction framework to facilitate the acquisition
• Assist with the overall development strategy
• Execute the strategic out-sale of a portion of the site to a homebuilder

CPG specializes in both residential development land transactions and investment sales,
providing a unique advantage in today’s market where many aging office assets are increasingly valued for their underlying land potential.

Our experience across these sectors allows us to identify repositioning opportunities, align developers and capital partners, and unlock value before assets are widely marketed.