Boston Properties: Reston Town Center Remains A Strong Market

RESTON, VA -- Boston Properties remains enthusiastic about the prospects of future development at Reston Town Center, a company official said during a recent quarterly earnings call.

One recurring theme for the company on the east coast lately has been the "strength of the Reston Town Center Market as a real magnet for private sector contractors and tech tenants," an official said during the call last week. "This quarter, we completed seven transactions for 71,000 square feet of leasing, and we are working on 200,000 square feet, one of which -- 135,000 square feet -- signed two days ago."

The company is also pursuing several "major build to suit opportunities in and around Reston Town Center," he added.

The comments come during a turbulent period as far as development goes for the Reston area. BXP revealed during the call that 200,000 square feet of space was being vacated by tenants at RTC in 2018. A report last month from Bisnow indicated that top developers were concerned that rents were starting to stagnate. And at a recent community meeting on a Fairfax County proposal to boost the density limit in Reston to pave the way for more development, hundreds of Restonians turned out to protest the move.

Image: Patch staff