An Arlington-based company has closed on the purchase of a 260-unit apartment community near the Wiehle-Reston East Metro Station.
Snell Properties pursued the acquisition of Lincoln at Wiehle Station, a new development that is located at 11500 Commerce Park Drive. The LEED Silver building was completed at the end of the year.
“We are proud to close out the year by adding such an incredible property to our portfolio,” says Christopher Hanessian, President of Snell Properties. “Lincoln at Wiehle Station is steps away from the Metro and provides incredible access to one of the most dynamic and growing parts of Northern Virginia.”
Peter Colarulli, the company’s Vice President, touted the “prime location” of the new community.
“Reston’s incredible employment growth will continue to attract renters to the area, and additional development in and around Reston Station will only make this property even more desirable.”
The community includes a mix of studio, one-bedroom, two-bedroom and three-bedroom plans. Rents range from $2,110 to $2,380.
The terms of the deal were not disclosed. Lincoln Property Company will manage the property.
Photo via Snell Properties
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