PARKRIDGE III
Owner
Transwestern Investment Group/Ascento
PARKRIDGE III
RESTON
Transwestern Investment Group/Ascento purchased Parkridge III from TA Realty in 2014, and hired Lincoln Property Company for leasing and management in late 2015. Between 2016-2018, Lincoln Property Company took converted space that had been vacant for 10 years and built out contemporary spec suites, created a tenant lounge and conference room and installed a micro market. Lincoln executed several renewals, and leased 45,000 SF on the 2nd floor, bringing the property to 100% leased in 2019.
Highlights
Market
Reston
Owner
Transwestern Investment Group/Ascento
Size
107,593 SF
Class
B+
Year Built
1987
Typical Floor Size
43,000 SF
WOW FACTORS
LPC Start Date: 2015
Percent Leased (2015): 65%
Asking Rate (2015): $26.00 - $27.00 psf
Percent Leased (2019): 100%
Asking Rate (2019): $29.00 - $30.00 psf
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