Reston International Center Sold for $35 Million

The 15-story Reston International Center, one of Reston’s first high-rise office buildings, has been sold in a joint venture for $35 million.

American Real Estate Partners and Square Mile Capital Management LLC announced on Monday they have acquired the property from JBG Companies.

The property is a 179,000 square foot office building located at 11800 Sunrise Valley Dr. In recent years, mixed-use development has taken place around the office tower, including JBG’s Reston Heights.

Reston Heights includes The Mercer Condos, The Westin Reston Heights Hotel and office space. It is also about to undergo an expansion that will add about 400 more residential units and 95,000 square feet of retail to the development.

The International Center and Reston Heights is located within walking distance of the new Wiehle-Reston East Metro station as well as the future Reston Town Center Metro station.

“Reston International Center presents American Real Estate Partners with a remarkable opportunity to renovate and reposition an iconic asset at the epicenter of one of the most vital mixed-use communities being developed along the Toll Road,” American Real Estate Partners President Brian Katz said in a statement.

“Reston, fueled by the coming completion of the Silver Line stations through Fairfax and Loudoun Counties, will continue to be a magnet for growing companies that value access to highly educated employees, exceptional transportation options and all of the amenities and infrastructure of Reston Heights and nearby Reston Town Center.”

The partners said it will embark on a $10 million renovation of Reston International Center, including the addition of a 3 1/2-story parking deck, as well as interior renovations.

Photo: Reston International Center/Credit: American Real Estate Partners