Reston Square's New Owner
Reston Square has a new owner as of this week. KBS Real Estate Investment Trust III bought the 139,071 SF office building in Reston-Herndon for $48M. SVP Stephen Close says it fit the firm’s criteria of being highly leased (over 90%), newer vintage (built in ’07), and close to major transportation arteries (Dulles Toll Road and Silver Line stops). WBB is the building’s largest tenant at nearly 74k SF. KBS has a handful of other NoVa properties, including three-building campuses in Merrifield and Oakton and Tysons Dulles Plaza. Stephen, KBS’ mid-Atlantic guru, confirms the Reston/Herndon submarket is strong.