Comstock Announces Expanded Footprint at Reston Station’s Commerce District

Rhea-AI Summary

Comstock Holding Companies (NASDAQ: CHCI) has secured two significant 10-year leases totaling approximately 75,000 square feet in the Commerce District of Reston Station. CACI International is set to occupy a new 41,000 square foot space, while the Applied Research Laboratory at Penn State will relocate to 34,560 square feet. This move aligns with Comstock's strategy to introduce 1.3 million square feet of new office space to Reston and transform the area into a mixed-use, transit-oriented development. Comstock's COO expressed excitement over the expansion of CACI and ARL within the district.

Positive

• Secured two 10-year lease agreements totaling approximately 75,000 square feet.
• CACI International and the Applied Research Laboratory at Penn State expanding their presence in Reston.
• Support for Comstock's strategy to introduce 1.3 million square feet of new office space.

Negative

• None.

Leases with CACI International & Penn State Applied Research Laboratory total ~75k sqft.

RESTON, Va.--(BUSINESS WIRE)-- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the “Company”), a leading developer, investor, and asset manager of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that has secured two 10-year lease agreements with CACI International and The Applied Research Laboratory at Penn State in the Commerce District of Reston Station on behalf of Comstock Partners, LC, an affiliated privately-held company.

CACI International, a software development, cybersecurity, systems engineering and data analytics company, will move into a new 41,000 square foot location. The Applied Research Laboratory at Penn State (“ARL”), a specialized research unit dedicated to interdisciplinary scientific research, is relocating from their current location in the Commerce District to a new 34,560 square foot space.

The addition of these two leases supports Comstock’s strategic plan to bring 1.3 million square feet of new office space to Reston. The Company continues its transformation of the Commerce District, located adjacent to the Wiehle-Reston East station on Metro’s Silver Line, from a 1990’s era office park into a highly amenitized, mixed-use, transit-oriented development.

“We are thrilled to build out the newly designed, modernized office spaces for CACI and ARL, who are joining us in our re-development of the Commerce District at Reston Station,” said Tim Steffan, COO of Comstock. “We’re delighted they’ve expanded their footprint in our Reston Station neighborhood, and we look forward to having them move into their new spaces.”

About Reston Station

Covering nearly 80 acres, spanning the Dulles Toll Road, and surrounding the Wiehle-Reston East Metro Station on Metro's Silver Line, Reston Station is one of the largest mixed-use, transit-oriented developments in the mid-Atlantic region. Strategically located midway between Tysons Corner, Virginia and Dulles International Airport, Reston Station is home to the first Helmut Jahn designed building in Virginia. An iconic JW Marriott is now under construction that will feature approximately 250 rooms, 100 JW branded luxury condominiums, and 15,000 square feet of state-of-the-art conference and event space. World-class service, unrivaled social and fitness amenity spaces, and exciting restaurants set a new standard for luxury hotels in the Washington, D.C. region. The New Remarkable®, Reston Station, is home to corporate and regional headquarters of Google, ICF Global, Spotify, Qualtrics, Rolls-Royce of North America, Neustar and others. Dining options include Founding Farmers, Starbucks, Matchbox, Big Buns Burgers, SweatLeaf, and Davio’s Northern Italian Steakhouse, with more coming soon. Retailers such as CVS and Scissors & Scotch provide additional conveniences for residents, office workforces, and commuters alike, as will a 50,000 square foot VIDA Fitness flagship facility currently slated to open in 2024 and Puttshack opening in 2025. Reston Station brings people together in dedicated community spaces that feature inspiring public art to enjoy social events that include fitness classes, live music, outdoor movies, and sporting event broadcasts on the region’s largest outdoor digital screen. Comstock’s commitment to creating exciting spaces and providing world-class services to create an elevated experience for all has earned Reston Station its reputation as the New Remarkable® place to live, work, and play. For more information, please visit Comstock.com and RestonStation.com.

About Comstock

Founded in 1985, Comstock is a leading developer, investor, and asset manager of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet of transit-oriented and mixed-use properties, including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest growing segments of one of the nation’s best real estate markets. Comstock’s developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit Comstock.com.

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Comstock Media Contact

Shanna Wilson

swilson@allisonpr.com

917-674-3096

Source: Comstock Holding Companies, Inc.