The transaction was funded through a Section 1031 exchange involving the $41 million disposition of Worldgate Centre, a 231,000-sf retail center in Herndon. Rappaport Cos. of Vienna, VA, bought Worldgate.
Reston Landing is within walking distance of Reston Town Center, a retail, entertainment and office center. Several office buildings, a townhouse complex and a hotel are planned for the area.
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