Alarm.com expands commitment to NoVA

Avison Young arranges lease renewal and expansion of Alarm.com’s corporate headquarters totalling more than 245,000 SF in Tysons, VA

Tysons, VA – Global commercial real estate advisor Avison Young announced today that it has negotiated a long-term lease renewal of 189,000 square feet (sf) and added 57,000 sf, bringing the total footprint for Alarm.com (NASDAQ: ALRM) to more than 245,000 sf at The Boro in Tysons for its headquarters located at 8281 Greensboro Drive in Tysons, Virginia. Alarm.com will become the sole tenant of the building, with plans for improvements slated for completion mid-year 2025. Amid widespread downsizing in the market – Alarm.com will expand its office space by 30% - one of the largest lease transactions of 2024 in Northern Virginia.

Alarm.com was represented by Bill Evans, Principal at Avison Young’s Tysons office and Terry Reiley, Executive Vice President at CBRE, represented the landlord, The Meridian Group (TMG).

Virginia Governor Glenn Youngkin, a longtime advocate for driving business growth in the Commonwealth, praised Alarm.com’s continued expansion.

“Alarm.com’s continued growth and expansion is a testament to how the Commonwealth’s business environment provides growth opportunities for all companies and demonstrates why Virginia is America’s top state for business,” said Governor Glenn Youngkin. “As a long-time leader in the growing smart property market, Alarm.com’s new lease will enable it to expand its research and development program and continue to pioneer cloud, IoT, and AI technologies in Northern Virginia.”

Alarm.com’s growth trajectory has not gone unnoticed. One of Gov. Youngkin’s first economic development announcements as governor was the expansion of Alarm.com’s research and development division at its Tyson’s headquarters in February 2022. Now, just two short years later – Alarm.com is expanding again, a testament to its successful business model, supportive infrastructure, and strong relationships with its landlords.

Founded in 2000, the company has evolved from a modest 7,500-square-foot office into a global leader, employing more than 2,000 people. Alarm.com’s decision to expand its corporate headquarters solidifies its role as an industry leader.

“This transaction wasn’t your typical real estate deal. The entire team – Alarm.com, Avison Young, The Meridian Group and Starwood Capital spent two years crafting a win-win solution. It’s been a significant undertaking and immensely rewarding to watch this deal come together,” said Evans. “I’ve had the honor of working with Alarm since its inception, and it’s been incredible to see their growth firsthand. While many companies in Northern Virginia are scaling back, Alarm.com is doing the exact opposite—they’re growing, expanding their office space, and investing in their home state of Virginia. During uncertain economic conditions, it is truly motivating to see a company like Alarm.com thrive. Clients like these add to the vibrancy of our economy and fuel optimism for the future of commercial real estate.”

Alarm.com’s addition of 57,000 sf to its corporate headquarters is one of the largest lease expansions in Northern Virginia in 2024 – defying broader market trends. Avison Young’s data shows that 62% of Northern Virginia tenants have downsized their office space by an average of 39% since 2020. Rather than scaling back, Alarm.com is positioning itself for future growth, reinforcing its leadership in the industry. 

Alarm.com’s CEO Steve Trundle commented, “We’ve had an opportunity to test various collaboration models over the last couple of years and concluded that we are at our best when our teams are working together and in person most of the time. We have also been pleased with the attention and support that Governor Youngkin’s office and the Commonwealth of Virginia have provided on a number of initiatives, including our apprenticeship programs. As a result, we decided to work with our real estate partners to renew our commitment to this location to support the continued growth we see in the future.“ 

From its humble beginnings with just a few employees, the Virginia-based technology company specializing in property security has grown into a global powerhouse. Alarm.com’s latest expansion marks a 300% increase in office space since its initial lease of 82,000 sf signed in 2014, alongside significant technology investment and workforce growth — with over 2,000 employees globally.

“TMG is thrilled that Alarm.com continues to expand within The Boro Tysons. This vibrant neighborhood, with its mix of retail, dining, and events, perfectly complements their innovative spirit, supporting both business growth and community engagement,” added Katie Yanushonis, Senior Vice President, TMG.