Boston Properties’ CEO Doug Linde says that Reston’s urban market is dramatically outperforming other areas.
In a quarterly earnings call, Line said that the community’s urban market core is under 10 percent vacant, bringing in starting rents in the high 50s and 60s gross.
The company’s Reston Next Project — which is welcoming anchor tenant Fannie Mae this month — has secured rents starting in the low 60s. The company takes up roughly 700,00 square feet of space. Volkswagen will also move into that project.
Reston Town Center also secured several leases this year. While the company did not disclose the name’s of the latest tenants, Boston Properties signed a 20,000-square-foot lease with a new theater operator.
Last week, the company also completed a 20,000-square-foot fitness operator.
He also said three other leases for restaurants are “close to execution.”
Last month, the company confirmed that Open Road Distillery, Hammer & Nails, and Compass Real Estate signed leases and are slated to open next year.
So far, the company has declined to comment further on the leases.
Recent Stories
Celebree School will have a grand opening for its new Herndon location on Saturday, April 27 (courtesy of Celebree School) A Maryland-based early childhood education company is opening a second…
W&OD Trail in Herndon (staff photo by James Jarvis) The Washington & Old Dominion (W&OD) Trail has reached the half-century mark. The Northern Virginia Regional Park Authority (NOVA Parks) is…
Left to right: Fairfax Alliance for Better Bicycling President Bruce Wright, Hunter Mill District Supervisor Walter Alcorn and Reston Bike Club Vice Chairman Joel Kuester team up to promote the…
Heming, a mixed-use apartment building in Tysons, at sunset (staff photo by Angela Woolsey) FCPS Prevails in Sexual Assault Lawsuit — “A jury on Wednesday rejected a woman’s lawsuit seeking…
