Reston, VA Office Overview
Reston neighbors the Alexandria, Chantilly Town, and Falls Church markets. While the City of Reston itself has a population just over 60,000, the city is also part of the Washington D.C. metro area, which is home to over 6 million people. The economy is driven by a wide variety of business and industry.
As of mid-2017, the market encompasses over 17 million square feet of existing office space in properties larger than 50,000 square feet. Located near the Dulles Technology Corridor, the commercial real estate market sees a large amount of activity from the professional, scientific, and technology sectors.
Reston, VA Office Inventory Description
Reston is less than 10 miles from Tyson's Corner, the Capital Beltway, and Dulles International Airport. It does its part to contribute to the $436 billion in annual gross metropolitan product of the Washington D.C. metro area. Nearly 60% of the office space in Reston is Class A, with Class B adding another 40%.
Some of the most robust demand comes from portfolio-quality properties such as Fountain Square, SCS Engineers Building, and Reston Plaza I.
Reston, VA Commercial Inventory Breakdown
Office Spaces
Total: 23,273,205 SF
By square footage range:
- 50k to 100k SF: 2,916,559 SF / 12.53% of total office
- 100k to 500k SF: 16,482,092 SF / 70.82% of total office
- 500k to 1M SF: 3,874,554 SF / 16.65% of total office
By class:
- Class A+: 1,437,000 SF / 6.17% of total office
- Class A: 12,031,735 SF / 51.7% of total office
- Class B: 5,577,380 SF / 23.96% of total office
- Class C: 680,884 SF / 2.93% of total office
Top 10 Largest Office Buildings
in Reston
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Reston Gateway - Building A | NEC Sunset Hills Road & Town Center Pkwy, 20190 | 807,000 | 2022 |
| Fountain Square | 11921 Freedom Drive, 20190 | 755,554 | 1990 |
| RTC West - Phase II | NWC Sunset Hills Road & Town Center Pkwy, 20190 | 650,000 | n/a |
| Reston Gateway - Building B | NEC Sunset Hills Road & Town Center Pkwy, 20190 | 630,000 | 2022 |
| Campus Commons Office Tower | 1902 Campus Commons Drive, 20191 | 522,000 | n/a |
| Reston Crossing - Building 4 | 2001 Edmund Halley Drive, 20190 | 510,000 | n/a |
| One Freedom Square | 11951 Freedom Drive, 20190 | 432,581 | 2000 |
| Two Freedom Square | 11955 Freedom Drive, 20190 | 421,757 | 2001 |
| One Reston Town Center | 1760 Reston Pkwy, 20191 | 420,000 | n/a |
| Reston Crossing - Building 1 | 2001 Edmund Halley Drive, 20190 | 405,000 | n/a |
Most Recently-Built Office Buildings
in Reston
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Reston Station - 1900 Reston Metro Plaza | 1900 Reston Station Blvd, 20190 | 373,479 | 2017 |
| Reston Hospital Center - Pavilion II Medical Office Building | 1850 Town Center Drive, 20190 | 180,000 | 2014 |
| Democracy Tower | 11955 Democracy Drive, 20190 | 259,441 | 2009 |
| South of Market - 1818 Library Street | 1818 Library Street, 20190 | 248,870 | 2008 |
| South of Market - 11950 Democracy Drive | 11950 Democracy Drive, 20190 | 121,153 | 2008 |
| Reston Square | 11790 Sunrise Valley Drive, 20191 | 139,071 | 2007 |
| Three Patriots Park | 12290 Sunrise Valley Drive, 20191 | 182,423 | 2006 |
| Fairway Executive Center | 1984 Isaac Newton Square, 20190 | 63,000 | 2005 |
| 12061 Bluemont Way | 12061 Bluemont Way, 20190 | 221,326 | 2004 |
| Parkway Medical Tower | 1860 Town Center Drive, 20190 | 146,000 | 2003 |
Reston, VA Green Office Space
With the high number of tech and venture capital firms, it comes as no surprise that there is a growing amount of green office space in town. There are twenty-one office buildings larger than 50,000 square feet and are labeled green (are LEED-Certified or are EPA Energy Star-rated). Combined, these properties add over 3.5 million square feet of green office space to the market.
A great example is Reston Station at 1900 Reston Metro Plaza. Constructed in 2017, this Class A property contributes over 373,000 square feet and is LEED-Certified Silver.
In 2017, the National Green Building Adoption Index surveyed the top 30 office markets in the U.S. and learned that over the past 12 years the percentage of green office space has increased by more than 33% nationwide.
Reston, VA's Top Office-Using Sectors
Reston receives significant demand from top like government, technology, venture capital, and large corporate offices.
- Government – Google Federal Services, the United States Geological Survey, and the National Wildlife Federation.
- Technology – Carahsoft, ComScore, Leidos, Maximus, NVR, Verisign, and Learning Tree International.
- Venture Capital – Updata Partners, Ventana Capital, and New Atlantic Ventures.
- Corporate Office – Gate Group, CNRI, NII, and the American College of Radiology.
Reston Demographics
Population
- Total Population60,335
- Male Population(47.8 %) 28,840
- Female Population(52.2 %) 31,495
- Median Age39.30
Income/Financial
- Average Household Income$146,964
- Median Household Income$116,375
- Median Income Under 25$76,342
- Median Income 25-44$123,968
- Median Income 45-64$128,438
- Median Income Over 65$84,426