ExxonMobil Corp. has signed a lease to purchase agreement with Inova Health System for the former's campus in Fairfax, VA.
Inova, a nonprofit healthcare system headquartered in nearby Falls Church, VA, announced Monday that it plans to locate its Translational Medicine Institute and Comprehensive Cancer and Research Institute at the 117-acre site. Financial terms of the deal were not disclosed.
"ExxonMobil is very pleased that Inova Health Care System has selected our campus as the destination for its planned medical expansion," ExxonMobil spokesman Todd Spitler told NGI on Monday.
According to Spitler, approximately 2,100 employees currently work at the Fairfax campus. Most work for three companies -- ExxonMobil Refining and Supply Co., ExxonMobil Fuels, Lubricants & Specialties Marketing Co., and ExxonMobil Research and Engineering Co. -- and associated support groups. He said the Fairfax employees have the opportunity to relocate to ExxonMobil's new Houston campus, which is expected to house up to 10,000 employees.
Spitler said the major doesn't expect to have the Fairfax campus fully vacated of its employees until the end of 2015. The campus was built in 1979 and expanded in 1989.
Inova spokesman Roger Raker told NGI on Monday that the agreement with ExxonMobil was for a lease to purchase.
ExxonMobil announced plans to relocate its employees from Fairfax and Akron, OH, to Houston in 2012 (see Daily GPI, June 8, 2012).