JBG Scores $98.2M Reston Financing
JBG landed $98.2M in financing for Reston Executive Center, the three-property, 494k SF office park in Reston Town Center it purchased last November. CBRE's Joe Donato, who arranged the deal along with colleague Matt Williams, says that the complex's location in RTC was a big positive for lender Wells Fargo. To fulfill its leasing strategy, JBG is embarking on a capital improvementplan to stabilize the park, which is 77% leased. Reston Executive Center is proximate to the future Reston Metro station, which bodes well for the site's future development since there's an opportunity for increased density with the station arrives. (Plus the building can easily get to Dulles if it wants to escape for some Reston and Relaxation.) Above: 12110 Sunset Hills Rd.
Today is Aerosmith frontman Steven Tyler's birthday. Without looking it up, who can guess how old he is? Email chris.baird@bisnow.com
