Chicago, IL ­ The Alter Group is developing The Crossroads at Westfields, a Class A office park at Stonecroft Boulevard and Conference Center Drive in Chantilly, VA, announced Michael J. Alter, President of the Chicago-based national corporate real estate development firm. The land is currently owned by CSX Realty Development LLC, and the two companies are working together to develop the site.

The 18 acres within the prestigious Westfields Corporate Center business park has the potential to support up to 300,000 SF of office space in two buildings in a technologically advanced environment close to the crossroads of Routes 28 and 50. The Crossroads at Westfields offers convenient access to the District of Columbia and northern Virginia; Chantilly is adjacent to Washington Dulles International Airport, three miles north of the park.

³The Crossroads at Westfields site is strategically located because it is within walking distance of the government¹s National Reconnaissance Office (NRO), a federal agency that designs, builds and operates the nation¹s reconnaissance satellites,² Alter said. ³We intend to market The Crossroads at Westfields to blue-chip defense contractors who need Class A office space close to this vital national security agency.²

The country¹s largest business park, the 1,100-acre Westfields is anchored by the NRO and currently is home to more than 5,100,000 SF of office and flex buildings in a campus-like setting. Ultimately, the park will encompass between 16,000,000 SF and 18,000,000 SF of office and industrial development.

³Although Westfields still contains significant parcels of undeveloped land, our site is the only site with immediate access to the NRO. This strategic locational advantage makes the parcel particularly desirable to defense contractors and government agencies that need proximity to the organization,² said Steve Crosby, President of CSX Realty Development.

³Westfields is an especially dynamic market right now. Over the last two years, nationally known defense contractors have signed more than 850,000 SF in news leases within the park. Northrop Grumman leased more than 275,000 SF in two buildings; Aerospace is leasing 82,000 SF in a new build-to-suit; CSC consolidated two separate operations into an additional 120,000 SF; and SAIC pre-leased 82,000 SF on an adjacent site,² said Matthew A. Ward, Senior Vice President, The Alter Group.

Chantilly is western Fairfax County¹s major employment center, with nearly 7,700,700 SF of office space in low- to mid-rise structures, and 8,500,000 SF of industrial and flex space. The county¹s highly educated and trained workforce has attracted a dynamic network of technology firms and services.
Other advantages are the competitive tax structure; superior digital infrastructure, including Internet backbone connectivity; and the extensive highway infrastructure including I-66, I-95 and I-495.

Amenities close to The Crossroads at Westfields include walking trails; the Marriott Conference Center with 340 guest rooms, 40,000 SF of flexible meeting space and three restaurants; an on-site health club; and day-care center. Extensive retail, service and recreational amenities are within walking distance, including Sully Station Shopping Center and the Westfields Golf Course.

The Crossroads at Westfields is being marketed by Cushman & Wakefield.

The Alter Group is a national corporate real estate development firm with five vertically integrated affiliate companies. Each offers specialized services including healthcare facility development, brokerage, construction, and property management.

The firm, which was founded by William A. Alter in 1955, has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. In 2004, the company has 6,700,000 SF of space, worth $758,000,000, under development in growth markets across the nation. In addition, The Alter group owns 18 business parks nationally, and 1,500 acres of vacant, improved land for future development.

The firm ranks # 4 in the National Real Estate Investor survey of America¹s top office developers.

CSX Realty Development owns, manages and develops property across a 23-state territory east of the Mississippi River. CSX Realty Development is an affiliate of CSX Transportation, Inc., a wholly owned subsidiary of CSX Corporation, a Fortune 250 company.

For more information contact:
Tom Silva
Vice President of Marketing
(847) 568-5897