CMC Industries adds three-building portfolio to its assets under management.
Comstock Industries announced that one of its managed companies, Comstock Development Services, or CDS, and its affiliates has acquired JBG Smith's Commerce Metro Center Portfolio, or CMC Portfolio. The acquisition, facilitated by CHCI, increases the Reston Station neighborhood to 4.5M square feet at full build out, covering nearly 40 acres spanning the Dulles Toll Road and surrounding the Wiehle-Reston East Metro Station. The CMC Portfolio acquisition also increases the total assets under management by CHCI under its long-term asset management agreement covering Reston Station and other assets of CDS. The CMC Portfolio includes three stabilized Class-A office buildings totaling 408,000 square feet and has entitlements in place for an additional 1.1M square feet of mixed-use development including office, residential, retail and hotel uses. Improvements are being planned that will enhance the pedestrian experience and connection to the Metro Station while incorporating the CMC Portfolio into the Reston Station neighborhood and positioning the expanding CMC Portfolio to attract additional retail, dining and service establishments.