Located at 12001 Sunrise Valley Dr., the four-story Reston Corner I is one of three buildings that make up the 300,000-square-foot Reston Corner office park. It was empty after full building tenant Northrop Grumman decamped last year as part of a larger consolidation effort for the area.
Since then Penzance invested in a $3-million to $4-million rehab of the building, Pacinelli tells GlobeSt.com. Reston Association is the first tenant to sign on. The asking rate is $30 per square foot. Penzance owns 14 buildings encompassing two million square feet in the area. Overall, the company's portfolio is doing very well, Pacinelli says.
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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.
