Developer Snaps Up Reston Office Building

RESTON, VA — A developer has just purchased Reston Metro Center II, an office building on Sunrise Valley Drive currently being used by defense contractor General Dynamics.

Consolidated-Tomoka Land Co. purchased the 64,000-square-foot property at 12180 Sunrise Valley Drive for $18.6 million, according to a statement.

The property is located near the future Reston Town Center Metro station that will open next year, and is just a half mile from the Halley Rise development, which has 3.5 million square feet of housing, retail, office and public screen space, as well as a new Wegmans grocery store.

"Including the Reston Property, the Company has invested approximately $76 million year-to-date or approximately 76% of the mid-point of the Company’s 2019 guidance for the acquisition of income-producing assets," the statement reads. "The investments year-to-date consist of seven single-tenant properties located in six different states with a weighted average cap rate in-line with the mid-point of the Company’s 2019 guidance."