Rubenstein Buys Vacant Reston Office Building For $18.6M

11493 Sunset Hills Road Reston
Photo credit: Courtesy: Rubenstein Partners

A recently vacated Reston office building will soon be getting an extensive makeover.

Rubenstein Partners purchased the 180k SF office building at 11493 Sunset Hills Road for $18.6M, with a value-add strategy in mind.

The Philadephia-based firm is planning a $9.5M renovation, which will add a fitness center, a conference center, food service, and a collaborative indoor/outdoor space, including an outdoor deck. It also will replace the HVAC and building management systems.

More importantly for Reston's technology-driven tenant base, Rubenstein plans to raise ceiling heights and "create an industrial loft feel" to make the building "a high-tech magnet," according to the firm's announcement.

The building was previously owned by a REIT controlled by Denver-based Dividend Capital, which began marketing the property in August 2014.

Unisys Corp occupied the building for 10 years before vacating in March 2015, when they moved down the road to 11720 Plaza America Drive in Reston. Rubenstein has brought on Newmark Grubb Knight Frank's Andy Klaff and Steve Hoffeditz to market the property.

The building sits roughly a quarter of a mile from the Wiehle-Reston East Silver Line station.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

270-Unit Manassas Gated Community Sells: The D.C. Deal Sheet

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

How Metropolis Is Bringing Parking Into The Future With AI And Recognition Technology

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Private Equity Firm Buys Former Texas Instruments Campus For New Headquarters