Boston Properties Announces New Project in Reston, Virginia
February 28 2018 - 4:02PM
Business Wire
Boston Properties, Inc. (NYSE: BXP), one of the
largest public owners and developers of office buildings in the
United States, announced today that it has entered into a binding
lease agreement with Fannie Mae at its Reston Gateway project in
Reston, Virginia. Under the terms of the agreement, Fannie Mae will
lease approximately 850,000 rentable square feet out of
approximately 1,000,000 rentable square feet to be constructed on
the Reston Gateway property. Fannie Mae intends to occupy the
buildings 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 adjacent 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.
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Reston Gateway Conceptual Rendering,
courtesy of Duda Paine Architects (Photo: Business Wire)
“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.
Boston Properties is a fully integrated real estate investment
trust that develops, redevelops, acquires, manages, operates and
owns a diverse portfolio of primarily Class A office space totaling
50.3 million square feet and consisting of 167 office properties
(including eight properties under construction), six residential
properties (including four properties under construction), five
retail properties and one hotel. The Company is one of the largest
owners and developers of Class A office properties in the United
States, concentrated in five markets - Boston, Los Angeles, New
York, San Francisco and Washington, DC.
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Boston Properties, Inc.Michael LaBelle, 617-236-3352Executive
Vice President, Chief Financial Officer and TreasurerorArista
Joyner, 617-236-3343Investor Relations Manager
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