DRC to Open New National Capital Region Headquarters
11 Janeiro 2011 - 12:07PM
Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of
innovative management consulting and information technology
solutions to federal and state governments, today announced the
selection of Clarendon Square in Arlington, Va., as the location
for its new national capital region headquarters. With more than
600 employees in the region, the Washington, D.C. area is now DRC's
largest operating location. DRC's chairman and chief executive
officer, Jim Regan, has relocated his primary office to Northern
Virginia, however, functional operations will continue to be
located principally at the company's corporate headquarters
facility in Andover, Mass.
The new facility, which is expected to open on June 1, 2011, and
has been leased for seven years, will consolidate operations
currently located in Reston, Va., and the Arlington neighborhoods
of Ballston, and Crystal City. The company will continue to
maintain national capital region offices serving local customers in
Washington, D.C., Columbia, Md., Edgewood, Md., Falls Church, Va.,
Crystal City and Dumfries, Va., and anticipates no significant
change in facilities costs as a result of this transition.
"The strong growth momentum of our federal business was the
catalyst for this strategic initiative," said Mr. Regan. "In
2010, approximately 60 percent of our business was concentrated in
federal growth markets. This business, which is located
primarily in the national capital region, is anticipated to
increase to approximately 65 percent of total revenue in 2011,
growing in the range of 13 to 15 percent. Consolidating our
operational headquarters in the new Clarendon facility will
significantly improve organizational effectiveness as we continue
to expand our presence in the Washington area."
The Clarendon office will include the company's newly formed
Federal Group headquarters, as well as a demonstration center, a
training center and DRC executive offices. "The high
visibility Clarendon location brings us closer to many
customers. This proximity along with strong and efficient
service from our functional offices in Andover positions us well to
provide superb service to our clients," said Paul Strasser, DRC's
Federal Group senior vice president and general manager.
The Clarendon facility, which totals approximately 37,000 square
feet, is in the Clarendon Square Building located at 3033 Wilson
Boulevard, adjacent to the Clarendon Metro station in the heart of
Arlington. The office is situated close to government customers,
and its location offers a vibrant urban community culture with
desirable neighborhood living and a diverse selection of shopping
and dining alternatives. DRC will be one of the lead tenants
occupying the Class A building owned by Phillips Development
Corporation, who was represented by Michael Altman and Marty
Almquist of Cassidy Turley in the transaction. DRC was
represented by Brad Davis of CB Richard Ellis and Neil A. Schneider
of McCall & Almy in the transaction.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) provides measurable
performance improvements for government customers through the
delivery of innovative management consulting, engineering and
technology solutions. DRC offers the capabilities of a large
company and the responsiveness of a small company, backed by a
history of excellence and customer satisfaction. Founded in
1955, DRC is a publicly held corporation (Nasdaq:DRCO) and
maintains more than 25 offices nationwide with major offices in
Andover, Massachusetts and the Washington, D.C. region. For
more information, please visit our website at www.drc.com.
Safe harbor statements under the Private Securities Litigation
Reform Act of 1995: Some statements contained or implied in this
news release, may be considered forward-looking statements, which
by their nature are uncertain. Consequently, actual results could
materially differ. For more detailed information concerning how
risks and uncertainties could affect the company's financial
results, please refer to DRC's most recent filings with the SEC.
The company assumes no obligation to update any forward-looking
information.
CONTACT: Investors: Chris Witty
Darrow Associates, Inc.
646.438.9385
cwitty@darrowir.com
Media: Matt Warnock
Sage Communications (for DRC)
703.207.0941
mattw@aboutsage.com
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