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Comstock Leases Full Building at Reston Station to ICF

10/30/2019
Global Consulting Company Will Move its Headquarters to 1902 Reston Metro Plaza

RESTON, Va., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Comstock Holding Companies Inc. (Nasdaq: CHCI) (“Comstock”), a diversified real estate development and asset management company, announced today the signing of a lease agreement that will move the global headquarters of ICF, a global consulting and digital services firm, to 1902 Reston Metro Plaza at Reston Station in the heart of Northern Virginia’s Technology Corridor.

Comstock recently began construction of the third trophy-class office tower on Metro Center Plaza, adjacent to the Metro’s Reston-East Metro Station and will complete construction of the base building in 2021. Interior improvements will be completed in time for ICF occupancy in 2022. The glass and steel tower spans over 200,000 square feet.

In addition to a modern, open floorplan, the building will also feature market-leading outdoor amenity spaces including a private rooftop event space with catering kitchen, a landscaped sky park on the 9th floor, secure garage parking and a two-story glass lobby on the Metro Plaza.

“We are confident that Reston Station has everything we need to provide one of the best employee experiences in the Washington D.C. metro area,” said John Wasson, Chief Executive Officer of ICF. “Having our global headquarters in the heart of a rapidly expanding technology corridor directly supports our strategic growth plans and provides so many more conveniences to our employees.”

ICF will be joining Google, Neustar, Rolls-Royce North America, British Telecom, and Spaces by Regus that have selected Reston Station for their home in the Dulles Corridor. Among the largest mixed-use and transit-oriented developments in the Washington, D.C. region, Reston Station covers nearly 40 acres spanning the Dulles Toll Road and is currently the only transit-oriented development in the Dulles Corridor with an operating Metro Station onsite.

“The Reston Station site and architectural quality of the development made an immediate impression with ICF’s senior executives,” said Tim Steffan, EVP/Asset Management, Development and Leasing for Comstock Companies. “Our executive team, along with ICF’s real estate team, placed a high value on working through all of ICF’s design specifications to produce a best in class home for this global organization.”

“We look forward to welcoming ICF and its entire team to the Reston Station neighborhood,” said Christopher Clemente, CEO of Comstock Companies. “Comstock is committed to creating a world-class development that provides world-class companies a remarkable neighborhood and an attractive platform for our tenants to recruit and retain talent needed to grow their business.”

ICF is a global consultancy and digital services provider with over 7,000 employees. Businesses, agencies, brands, and organizations across the public and private sectors work with ICF to navigate change and shape the future.

About Comstock Holding Companies, Inc.
Comstock Holding Companies, Inc. (“CHCI”) is a real estate development, asset management and real estate services company that 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 since 1985. In 2018, CHCI announced its plan to wind-down its subsidiary for-sale homebuilding operation to focus exclusively on commercial real estate investment, development, asset management and real estate related services. Anchoring CHCI’s transition 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 and mixed-use development in Reston, Virginia, and Loudoun Station, a nearly 2.5 million square foot transit-oriented, mixed-use development in Ashburn, Virginia, and additional development assets. Comstock has over 35 years 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. CHCI also provides development supply chain services, including capital markets, real estate brokerage, environmental consulting and remediation services. Comstock Holding Companies, Inc. is publicly traded on NASDAQ under the symbol CHCI. For more information, visit  www.ComstockCompanies.com .

About Reston Station
Strategically located midway between Tysons Corner and Dulles International Airport, Reston Station is one of the largest mixed-use, transit-oriented developments in the Washington, D.C. region. Covering nearly 40 acres along the Dulles Toll Road and surrounding the Wiehle Reston-East Metro Station at the Phase I terminus of Metro's Silver Line, Reston Station is home to the first Helmut Jahn designed building in Virginia and features additional trophy-class buildings by the world-class design team of HKS. With multiple residential buildings completed, under construction and planned, the Reston Station neighborhood will provide a wide variety of housing for thousands of residents while two major brand hotels will serve short-term and extended-stay visitors. Founding Farmers, Starbucks, Sweet Leaf are open, while Matchbox, Big Buns and other popular restaurants are coming soon. CVS and other service-oriented retailers will provide additional conveniences for residents, office workforce, and commuters alike. For more information about Reston Station, visit www.RestonStation.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.

Comstock Companies Media Contact
Shanna Wilson
[email protected]
917-674-3096

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Source: Comstock Holding Companies, Inc.

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