Planned Reston Tower Still Seeking Tenants

by Vernon Miles November 26, 2018 at 1:30 pm 9 Comments

Update 10:30 a.m. — David Toney, Vice President of Development for Akridge, has clarified that the One Reston Town Center project does not have a five-year deadline to begin construction.

(Editor’s note: This story was updated Wednesday, Nov. 28, at 12:15 p.m. and again at 2:30 p.m. to correct references to One Reston’s height.)

One Reston Town Center, a 23-story building in Reston’s urban core, made waves when it was first approved six years ago. But since then, the project has been largely silent.

The project is planned to offer 420,000 square-feet of office space, as well as 15,000 square feet of ground-level retail. Akridge property management said at the time that it would not begin construction until a lead tenant was found to occupy at least 150,000 square feet of that total office space.

A leasing agent at Avison Young, a real estate partnership business, said the building is still in the pre-leasing phase. While the agent said Avison Young is actively pursuing several deals currently, no lead tenant has been found to occupy the building.

“We have some proposals in to some groups,” said David Toney, Vice President of Development for Akridge. “These things take time. We have some good activity on the project. We’re focusing on that and focusing on financing to go forward.”

Prior to the 2016 reapproval, Akridge had noted that waiting for a lease before beginning construction was less risky than beginning construction while searching for a tenant.

Photo via Akridge

This story has been updated

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