RESTON, VA–Fannie Mae has entered into a binding agreement with Boston Properties to lease 850,000 square feet at the REIT's Reston Gateway project. Fannie Mae will occupy the 1-million-square foot property after it is constructed, beginning in 2022.
Reston Gateway is intended to be developed in multiple phases and could ultimately contain as much as 3.5 million rentable square feet of mixed-use, transit-oriented development. Reston Gateway is located next to the Reston Town Center Metro Station on the Silver Line of the Metro, which is currently under construction and scheduled for completion in early 2020.
“Reston Town Center, a dynamic, 24-7, mixed-use environment, remains the ideal place to recruit, retain, and motivate world-class talent. We couldn't be more pleased to have been chosen for this important assignment, and we thank Fannie Mae and their advisors for their confidence in BXP,” said Boston Properties' Senior Vice President, Peter Otteni in a prepared statement.
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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.
