Engineering Giant Expands Reston Headquarters With 289K SF Lease

Bechtel, one of the largest privately held companies in the U.S., has renewed its headquarters office lease in Reston, Virginia, in a rare expansion deal.  

The global engineering firm signed a 289K SF lease renewal at a BXP-owned property near the Reston Town Center Metro station. The deal represents a 33K SF expansion from its prior footprint, a BXP spokesperson told Bisnow. 

BXP, formerly Boston Properties, didn't disclose the length of the new lease term, but a spokesperson said it was a “long-term lease renewal.”

Bechtel shifted its headquarters in 2018 to Reston from San Francisco, its home for more than a century. At the time, it leased 225K SF at One Reston Overlook. 

Bechtel is now planning to take 11 of the 12 floors in one of BXP's two Reston Overlook office buildings, with its offices making up more than 90% of the 320K SF property.

“As a client for over a decade, Bechtel’s renewal and expansion within Reston Town Center is a testament to Reston’s desirability amongst global firms and the strong partnership we’ve been able to foster,” BXP Executive Vice President Jake Stroman said in a release. 

Bechtel is owned by the family of the same name, one of the wealthiest in the world, and has been operating for 126 years. As of 2022, it was the 20th largest privately-held firm in the U.S. and ranked the second-largest U.S. contractor in 2023. It grossed $16.3B in revenue last year.

Bechtel's portfolio spans industries including defense and space, environmental cleanup, critical minerals, advanced manufacturing, infrastructure, nuclear power, and energy security and transition. Serving private and federal clients, the company employs 8,000 individuals in nearly 50 countries. 

BXP was represented in-house by Stroman and Erin Cotter, while CBRE’s Cathy Delcoco represented Bechtel in the deal.