Big Portfolio Purchase in Reston
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Atlantic Realty and Angelo, Gordon & Co. acquired a four-building, 500k SF portfolio in Reston for $82M from Garrison Investment Group. The purchase includes Reston Corner I, II and III, and a fourth building in nearby Parkridge Center. The buildings, near the Wiehle-Reston East Metro station, are about 50% leased to tenants like the Reston Association and Walmart, reports the Washington Business Journal. The buyers plan to invest $5M on building and common area improvements. [WBJ]