Reston Business Campus sells for $13M
The four-building portfolio is approximately 83,000 square feet.
The four-building Reston Business Campus on Pinecrest Drive in Reston has sold for $13 million, according to the seller, Bethesda, Maryland-based commercial real estate firm Finmarc Management Inc.
The campus was purchased by 10th Street LLC and totals approximately 83,000 square feet. The four buildings were part of a larger 26-building portfolio of 950,000 square feet of commercial space that Finmarc had acquired from First Potomac Realty Trust for $96 million four years ago.
Reston Business Campus is 95% leased to tenants including Distributed Solutions Inc., Goldfish Swim School, Ideaventions Academy and Kiddie Academy of Reston. The buildings are located in close proximity to Fairfax County Parkway and the Dulles Toll Road.
Joseph Hoffman of Kelley Drye & Warren LLP provided legal services on behalf of Finmarc.
Finmarc owns and manages a portfolio of more than 100 properties including more than 6 million square feet of space in Delaware, Maryland, Virginia and Washington, D.C.