Firm Buys Reston Office Building for $18.6 Million, Plans Huge Renovation

RESTON, VA — A real estate investment firm has snatched up the vacant office building at 11493 Sunset Hills Road for $18.6 million, and a major renovation of the property is planned.

Rubenstein Partners announced the purchase of the 180,000 square-foot office building in a recent statement, noting that it planned to "reposition and re-tenant the asset."

"The vision for the property is to convert it from a traditional office building to a high-tech magnet by refashioning the interiors to offer higher ceilings and a more open 'industrial loft' feel, and enhancing the amenity package," the statement reads.

The building was most recently occupied by Unisys Corporation. It is located in the Reston Station area and is in a prime spot, just a short walk from the Wiehl-Reston East Metro Station on the Silver Line.

“11493 Sunset Hills Road is exactly the kind of value-add opportunity Rubenstein Partners seeks out,” Mike Daugard, Vice President of Washington, D.C. for Rubenstein Partners, said in the statement. “We are thrilled to complete the acquisition and commence our repositioning program which we believe will result in a unique building and tenant experience unlike anything currently available in the market. The outstanding location speaks for itself and we are excited to be a part of the transforming Reston Station neighborhood. The vacancy provides us with an opportunity to control what we believe is the best large block of space in a submarket with high tenant demand.”

The firm hopes to complete the renovation by the end of 2017.

Image via Rubenstein Partners