Boston Properties has executed 11 office leases in the fourth quarter of the year, filling more than 140,00 square feet in previously vacant space.
So far, the first phase of the company’s Reston Next project has been delivered. The project is 85 percent leased, with Fannie Mae as the anchor tenant.
Gainwell, a Pennsylvania-based technology company, has also leased 11,000 square feet of space at the next phase of Reston Town Center, according to Boston Properties..
Other leases include:
- SoFi, a personal finance company
- Lennar Multifamily
- About Objects, a computer consultancy firm
- Addison Group, an employment agency
“It is transformative to the Reston skyline and it’s a five-minute walk to the heart of the town center retail,” Doug Linde, Boston Properties director and president, said.
The company appears to have generated extra income earlier than expected from leasing, particularly in Reston and San Fransisco.
Boston Properties has also collected payments from several tenants that it had written off in 2020.
Jake Stroman, a senior vice president of Boston Properties, said Reston is the “poster child” for attracting tenants who are currently housed in suburban campuses.
“We saw our portfolio there materially outperforms both in terms of occupancy deal flow and especially rental rates,” Stroman said. “And we’re attracting tenants who may be in an unamenitized suburban campus coming back to the urban core in Reston Town Center.”
Staff photo by David Taube
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