Retail at Midtown

Highlights:

• Value Creation Opportunity - Immediate Lease-Up of 3,668 SF Suite
• Durable Cash Flow from Six Leading Restaurants & Retailers
• Centrally Located within the World-Class Reston Town Center Development
• Surrounded by Demand Generators and a Captive Audience
• New Metro Silver Line Sparking Additional Densification in the Immediate Vicinity
• Exceptional Demographic Profile

Description:

Cushman & Wakefield, as exclusive advisor, is pleased to offer for sale Retail at Midtown (the “Property”), an 18,473 square foot multi-tenanted retail condominium centrally located within Reston Town Center below 653 luxury residential units. The Property is 76% leased to six tenants spanning restaurant and service tenants – including the recently signed Ruth’s Chris Steak House (Opened in April 2023). In addition, there is a 3,668 SF suite available for immediate lease-up that will enable new ownership to significantly increase revenue.

Developed in 1990, Reston Town Center is a world-class urban development and the community hub of Reston, Virginia. It comprises nearly 2,500 residential units, 4.0 million square feet of Class A office space, a 518-key full-service hotel, six parking garages with over 7,000 parking spaces, and approximately 85 shops, restaurants and entertainment options. Notable retailers and office tenants include Apple, lululemon, LOOK Cinemas (coming soon), Starbucks, leidos, and Microsoft.

Reston Town Center is conveniently situated in the heart of Reston, a dense and affluent submarket within Fairfax County located along the Dulles Toll Road (267) and Metro Silver Line twenty miles west of downtown Washington, DC and five miles east of Dulles International Airport. Reston is home to a thriving technology corridor with 20.4 million square feet of office space and leading tech companies such as Amazon Web Services, Cisco, Google, Oracle, and Walmart Labs, to name a few. Further, Reston is home to a dense, affluent, educated and growing population – 134,173 people, $186,236 AHHI, 70% college-educated, and 8.1% projected 5-year population growth within three-miles of the Property.

Retail at Midtown offers durable cash flow, the ability to immediately drive revenue, and attractive risk-adjusted returns within one of the most vibrant communities in the Washington, DC region.

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