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Reston Office Portfolio Comes To Market With Whisper Price of $60M

“Reston is one of the few submarkets that have seen real rent growth over the last two years.”

11107 Sunset Hills Road

RESTON, VA–Penzance and a global real estate investment manager are selling a three-building, 266,000-square foot office portfolio here that, according to word on the street, has a whisper price of $55 million to $60 million. Transwestern is marketing the portfolio, which consists of 10700 Parkridge Blvd. and 11107 – 11109 Sunset Hills Road.

The portfolio is 90% leased to a tenant base that has an average remaining term of more than four years. Investment-grade tenants account for 26% of the portfolio’s occupancy. In addition, rents are 7% below the market rate.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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