Scroggins tells GlobeSt.com that, indeed, there is a contract on a parcel zoned for residential use, but an additional commercially zoned parcel that is currently utilized as surface parking does not have a buyer on board. And as for Terrabrook's interests in its remaining Reston Town Center office holdings--consisting of the 410,000-sf One Freedom Square and the 417,000-sf Two Freedom Square, both of which were co-developed with Boston Properties in 1999 and 2002, respectively--they are no more or less up for grabs than they were six months ago.

Spragen reiterates that contrary to rumors, Terrabrook has no intention of bidding adieu to the Washington, DC region market. "We have been in that market for the past seven-and-a-half years with the development of Reston Town Center, and we've been selling that whole time," he notes. "That strategy has been existent from day one. We continue to sell properties when they're ripe." When the time is right to sell, Boston Properties is always an option as a potential buyer. "We always look at the possibility of selling our interest to Boston Properties, Scroggins says. "We have developed other buildings with them in the past and have sold our interest to them once they are fully leased.