Reston Metro Center One is situated directly on the Dulles Toll Road and within ¼ mile of the Reston Town Center Metro Silver Line Station, slated to come online in 2020. The property is comprised of the 121,000-square feet.
Reston Metro Center One has recently undergone a $3.5 million capital improvement program including a striking new Main Lobby, state-of-the-art Fitness Center and modern new elevators. In-building Café, Conference Center and Tenant Lounge amenities, as well as a walkway connector to the new Metro Station, are scheduled to be constructed in 2019-2020.
As part of the TPGI merger into Parkway Properties, Inc. (NYSE: PKY) in late-2013, Coretrust founders acquired Reston Metro Center’s borrower providing a pathway to restructure the asset’s debt. In 2014, Coretrust and Contrarian Capital Management of Greenwich, CT restructured the loan and recapitalized the asset. Contrarian maintains all decision controls with Coretrust providing property management oversight with Normandy Real Estate. The partnership anticipates completing its re-positioning of the property with leases to tenants seeking Toll Road visibility, access to Metro and Reston Town Center, and proximity to nearby government agencies and contractors.