Vacant Reston Office Building Sells For $18.6M
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.
