Cresset Moves to Reston Station

Rhea-AI Summary

Comstock Holding Companies (Nasdaq: CHCI) announced a lease agreement with Cresset Manager, LLC to open a new multi-family office at 1900 Reston Metro Plaza, expected in Q3 2022. Cresset, a top-ranked wealth management firm, will occupy approximately 11,500 square feet. The relocation from Washington D.C. underscores Comstock's growing tenant roster which includes notable companies like Google and Rolls-Royce North America. This new location offers various amenities and is strategically positioned near major transport routes, enhancing accessibility and convenience for Cresset's employees.

Positive

• Signing of lease with Cresset Manager enhances Comstock's tenant portfolio.
• Cresset is a recognized leader in wealth management, potentially boosting Comstock's reputation.
• Strategically located office offers employees access to amenities and transport options.

Negative

• None.

Award-Winning Multi-Family Office Will Open at 1900 Reston Metro Plaza in Q3 2022

RESTON, Va., April 19, 2022 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) announced today the signing of a lease agreement with Cresset Manager, LLC (Cresset Asset Management or “Cresset”), an award-winning multi-family office and private investment firm. With 12 office locations throughout the United States, the multi-family office will relocate their Washington D.C. office to Reston Station, occupying approximately 11,500 square feet on the 9th floor of 1900 Reston Metro Plaza.

Launched in 2017, Cresset is an award-winning boutique multi-family office delivering a new paradigm for wealth management. Cresset is a Barron's and Forbes Top-Ranked Advisor that offers individuals and families access to a comprehensive suite of family office services, personalized wealth management, institutional-quality private investing opportunities, and an ecosystem and community of peer-to-peer learning.

“Cresset is a best-in-class wealth management firm and a tremendous compliment to the tenant roster at Reston Station,” said Timothy J. Steffan, EVP, Leasing, Development and Asset Management for Comstock. “Comstock, Cresset and the brokerage groups worked diligently to secure a location at our growing development.”

Cresset will join a roster of leading technology, defense, and service companies in the Reston Station neighborhood that already includes Google, Neustar (a TransUnion Company), Rolls-Royce North America, ICF Global, CACI, Certipath, Solar Winds, Megaphone LLC (a Spotify company), and Spaces by Regus.

Cresset’s new location will offer employees a variety of amenities including direct access to the Wiehle-Reston East Metro station, bike paths, restaurants, and retail at Reston Station. Located just 20 miles from downtown Washington, D.C., and midway between Dulles International Airport and Tysons Corner, Reston Station is easily accessible to the Washington, D.C.’s major commuter routes and two world-class airports.

About Comstock

Comstock is a leading developer and manager of mixed-use and transit-oriented properties in the Washington, D.C. metropolitan area. As a vertically integrated and multi-faceted asset management and real estate services company, Comstock has designed, developed, constructed, acquired, and managed thousands of residential units and millions of square feet of commercial and mixed-use properties in since 1985, and has been selected by multiple jurisdictions as Master Developer of Public-Private Partnerships responsible for development of some of the largest transit-oriented developments in the Washington, D.C. region. Comstock provides a wide array of real estate-related services that include asset management, strategic capital markets advisory services, development and construction management, marketing and leasing services, office and retail property management, residential property management, and commercial garage management. Comstock is publicly traded on Nasdaq under the ticker symbol CHCI. For more information, please visit: ComstockCompanies.com.

Comstock Media Contact

Shanna Wilson
shannakwilson@gmail.com
917-674-3096

FAQ

What is the lease agreement announced by Comstock Holding Companies?

Comstock announced a lease agreement with Cresset Manager, LLC, for a new office location at 1900 Reston Metro Plaza.

When is Cresset expected to open its new office?

Cresset is expected to open its new office in Q3 2022.

What is the size of Cresset's new office space in Reston?

Cresset will occupy approximately 11,500 square feet on the 9th floor.

Which notable companies are located in the Reston Station neighborhood?

Notable companies include Google, Rolls-Royce North America, and Neustar.

What benefits does Cresset's new location offer its employees?

Employees will have access to bike paths, restaurants, retail, and direct access to the Wiehle-Reston East Metro station.