Through its real estate services subsidiary, CDS Asset Management Comstock, Comstock has additionally purchased a vacant, one-acre land parcel from Fairfax County, on behalf of Comstock's managed company, CRS Sunset Hills LC. Located at the intersection of Reston Station Blvd. and Wiehle Ave., the land represents the final of 32 individual parcel acquisitions, merging 8-acres of land, to be developed as phase two of Comstock's Reston Station development.

Comstock plans to commence development on phase two in the coming months. Known as the Reston Row District at Reston Station, phase two has been approved for 1.35 million square feet of development. Plans for the district include two class A, office buildings, 300 apartment units, retail space, outdoor social spaces, a park, two parking garages and a 295-room, Marriott branded, full-service hotel and condominium tower, which will feature a 15,000-square-foot conference center and 90 condominiums.

Comstock's Reston Station development served as one of the Washington DC area's most active lease-ups in 2019; securing more than 500,000 square feet of office leases, with tenants such as Google, Neustar, ICF International, Rolls Royce and more. The development's existing and future retail tenants include Starbucks, CVS, Wells Fargo, Davio's Italian Steakhouse, Matchbox and more.

"We are excited to report on the continued progress at Reston Station," said Comstock CEO, Chris Clemente. "These recent transactions, as well as the upcoming development of the next phase of Reston Station is consistent with our mission of enhancing shareholder value as each transaction and new development activity generates fee-based revenue that is additive to the cost-plus, long-term asset management agreement covering our 'Anchor Portfolio,' which includes the Reston Station and other assets. Such development activities, as well as our acquisition of stabilized buildings, further increases our assets under management."