RESTON, VA–RN Golf Management has put Reston National Golf Course, a 168-acre active site, on the market. The property is being marketed by ARA Newmark on an 'as is' basis and with an eye towards low to medium density residential development.
A source close to the deal tells GlobeSt.com that the property is expected to sell for between $25 million to $35 million.
GlobeSt.com asked Mark Anstine, ARA Newmark's executive managing director for land services, for comment and he declined to answer except for this rather bold and sweeping statement: “We think it is the best residential development opportunity with the highest return potential of any property currently on the US market.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
