Industries Commercial Real Estate

Verisign will buy its corporate headquarters in Reston for $118 million

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Verisign has decided to buy, rather than lease, its corporate headquarters in Reston. A year after signing a deal to lease the building —  the former headquarters of Sallie Mae — the company agreed to pay $118 million for the 221,300-square-foot building at 12061 Bluemont Way.

The deal is scheduled to close Nov. 15. According to a report in CityBizlist, the 15-year lease required Verisign to pay $106 million in payments. It also stipulated that the building’s owner, a subsidiary of Rockwood Capital LLC, had to offer Verisign the right of first refusal to buy the property.  Verisign was formerly located in Mountain View, Calif. It began moving its headquarters operation to Northern Virginia last year and moved its local work force from Loudoun County to Reston after signing the lease on the Sallie Mae building.

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