RESTON, Va. & STERLING, Va.--(BUSINESS WIRE)--Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) and Neustar®, Inc., a global information services company and leader in identity resolution, today announced the signing of a lease agreement for Neustar’s new 100,000 sq. ft. headquarters at Reston Station, where Neustar will anchor Comstock’s second of three iconic office towers on Reston Metro Plaza.
Neustar will consolidate two offices from its Sterling campus to a new location at 1906 Reston Metro Plaza serving as the company’s global headquarters to more than 400 employees. Neustar serves more than 8,000 global clients and joins a growing roster of high-tech, information security, financial and defense companies moving to Reston.
“The technology advances and company growth at Neustar require a world class headquarters that embraces the future,” said Neustar President and CEO Charlie Gottdiener. “This is a big investment that addresses both our current and future requirements. By relocating into one building, we will provide our headquarters-based employees a more collaborative and connected work environment with the added benefit of an on-site metro station. The new office will also enhance Neustar’s ability to attract and retain emerging tech talent, address current workspace needs and foster future growth in a sustainably-minded environment.”
Reston Station, surrounding Reston Metro Plaza, continues to attract a high quality mix of exciting restaurants and fast casual dining establishments. Comstock’s recent acquisition of multiple properties surrounding the Metro Station facilities has expanded the Reston Station neighborhood to nearly 40 acres that span the Dulles Toll Road and will encompass nearly five million square feet of mixed-use development surrounding the Wiehle Reston East Metro Station. Comstock is committed to providing an amenity-rich environment in the entire Reston Station Community that provides an attractive place to live, work and play.
“We place great value on the relationship we created with Neustar early on in the lease negotiation process,” said Tim Steffan, EVP/Leasing for Comstock. “We moved quickly through the transaction to secure their anchor position in our second trophy office building at Reston Station, and look forward to a continued partnership with Neustar’s executive team and welcoming their workforce to Reston Station in 2020.”
About Neustar
Neustar is an information services and technology company and a leader in identity resolution providing the data and technology that enables trusted connections between companies and people at the moments that matter most. Neustar offers industry-leading solutions in Marketing, Risk, Communications, Security and Registry that responsibly connect data on people, devices and locations, continuously corroborated through billions of transactions. Neustar serves more than 8,000 clients worldwide, including 60 of the Fortune 100. Learn how your company can benefit from the power of trusted connections here: https://www.home.neustar.
About Reston Station
Strategically located midway between Tysons Corner and Dulles International Airport, Reston Station is among the largest mixed-use, transit-oriented developments in the Washington, D.C. area. Covering nearly 40 acres spanning the Dulles Toll Road and surrounding the Wiehle Reston-East Metro Station at the terminus of Phase I of Metro's Silver Line, Reston Station is already home to more than 1,000 residents, numerous businesses, multiple retail establishments, and several restaurants. With more than approximately 2 million square feet of completed and stabilized office and residential buildings, more than 2 million square feet of additional development in various stages of entitlement, development and construction, and a 3,500-space underground parking garage and transit facility adjacent to the Wiehle Reston-East Metro Station, the Reston Station neighborhood is taking shape and quickly becoming Fairfax County's urban focal point in the Dulles Corridor. For more information about Reston Station, visit www.RestonStation.com.
About Comstock Holding Companies, Inc.
Comstock Holding Companies, Inc. (“CHCI”) is a multi-faceted real estate development, asset management and real estate related services company that, since 1985, has designed, developed, constructed and managed several thousand residential units and millions of square feet of residential and mixed-use projects throughout the Washington, D.C. metropolitan market and in other key markets in the southeastern United States. In early 2018, CHCI announced it would wind-down its subsidiary for-sale homebuilding operation, and focus exclusively on commercial real estate investment, development, asset management and real estate related services. In early 2019, CHCI announced it had recapitalized its balance sheet and completed the transition of its operating platform. Anchoring the transition of CHCI is a long-term asset management agreement covering two of the largest transit-oriented, mixed-use developments in the Washington, D.C. area; Reston Station, a nearly 5 million square foot transit-oriented, mixed-use development in Reston, VA, and Loudoun Station, a nearly 2.5 million square foot transit-oriented, mixed-use development in Ashburn, VA, and additional development assets. Comstock’s substantial experience in entitling, designing, developing, and managing a diverse range of properties including apartments, condominiums, mixed-use (residential and commercial) properties, large-scale commercial parking garages and infrastructure projects, has positioned Comstock as a premier developer and real estate asset manager. CHCI also provides development supply chain services, including capital markets, real estate brokerage, environmental consulting, design and remediation services.
Comstock Holding Companies, Inc. is publicly traded on NASDAQ under the symbol CHCI. For more information, visit www.ComstockCompanies.com.
Cautionary Statement Regarding Forward-Looking Statements
This release may include "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by use of words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "will," "should," "seeks" or other similar expressions. Forward-looking statements are based largely on our expectations and involve inherent risks and uncertainties, many of which are beyond our control. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements. Additional information concerning important risk factors and uncertainties can be found under the heading "Risk Factors" in our latest Annual Report on Form 10-K, as filed with the Securities and Exchange Commission. Comstock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
