RESTON, VA-Reston Corner I and II have come out of bankruptcy now that its owner, Garrison Investment Group, has secured the necessary financing to recapitalize the two buildings. Located at 12001 and 12005 Sunrise Valley Dr., the 209,567-square-foot complex was acquired in November 2010 by Garrison from Penzance through foreclosure.

Last week Garrison recapitalized the properties through a combination of new financing and by kicking in additional equity. CBRE’s Jeff Roman, Mike Pepper and John DiCamillo have been tapped to take over the buildings’ leasing. Grubb & Ellis will continue as property manager, according to Tom McGarrity of the Garrison Investment Group. Neither CBRE nor Garrison was able to return a call to GlobeSt.com in time for publication.

Garrison also plans to move forward with Reston Corner II’s renovation, which had been scheduled for this year. Reston Corner I underwent a renovation in 2009 of its common areas and building systems. Also planned is a tenants-only fitness center and conference center for both buildings. 

Reston I and II are two of  three buildings that make up the 300,000-square-foot Reston Corner office park. Reston I was empty after full building tenant Northrop Grumman decamped in 2009 as part of a larger consolidation effort for the area. Penzance invested in a $3-million to $4-million rehab of the building afterwards.