Business
Comstock Announces Additional Acquisition in Reston
Redevelopment of 1891 Metro Center Drive will further expand Reston Station RESTON, Va., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc.
About this update from Comstock Holding Companies, Inc.
[{"type":"text","content":"Redevelopment of 1891 Metro Center Drive will further expand Reston Station\nRESTON, Va., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the “Company”), a leading developer, investor, and asset manager of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today the acquisition of 1891 Metro Center Drive in Reston, Virginia on behalf of Comstock Partners, LC (“CP”), an affiliated, privately-held company. This acquisition adds 2.67 acres with frontage on the Dulles Toll Road to Comstock’s expansive Reston Station development. Comstock plans to incorporate the property into its development plans for the west end of the Reston Station neighborhood, temporarily utilizing the existing 58,260 square foot building as swing space for its existing tenancy. The property is adjacent to Reston Station’s Metro Plaza District, which provides immediate access to the Wiehle-Reston East Metro Station where Comstock has completed more than 1.3 million square feet of development, including three Trophy-Class office towers, the BLVD residential tower, and retail spaces for Starbucks, CVS, Founding Farmers, Matchbox, Big Buns, Sweet Leaf, and Davio’s Northern Italian Steakhouse. Comstock recently announced a separate acquisition by CP of eight acres on Wiehle Avenue between Sunset Hills Road and the Dulles Toll Road, expanding the Reston Station neighborhood eastward. \"This acquisition is consistent with our commitment to develop world-class transit-oriented and mixed-use neighborhoods that become proud additions to the surrounding communities,” said Chris Clemente, Comstock’s Chairman and Chief Executive Officer. “At Reston Station we are creating a vibrant, livable, and sustainable community that puts thousands of people within steps of unrivaled lifestyle amenities and Reston’s first, and currently only, Metro Station.” About Reston Station Covering nearly 80 acres, spanning the Dulles Toll Road, and surrounding the Wiehle Reston-East Metro Station on Metro's Silver Line, Reston Station is one of the largest mixed-use, transit-oriented developments in the mid-Atlantic region. Strategically located midway between Tysons Corner, Virginia and Dulles International Airport, Reston Station is home to the first Helmut Jahn designed building in Virginia. An iconic JW Marr...