Comstock Holding Companies, Inc. announced the acquisition of Woodland Pointe, a 6.77-acre office campus located at 2200 Woodland Pointe Avenue in Herndon, Virginia, and the execution of a full-campus lease with Peraton. Woodland Pointe sits at the heart of the Dulles Technology Corridor, one of the nation's most active concentrations of defense contractors, cybersecurity firms, and aerospace innovators. The campus currently includes a six-story, 185,000-square foot, Class A office tower that is LEED Gold certified and includes a 165-person conference facility, a parking garage, and vibrant green spaces.
Concurrent with the acquisition, Comstock entered into multiple leases at Woodland Pointe with Peraton, a company that focuses on delivering advanced mission capability integration and transformative enterprise IT solutions to customers across space, intelligence, cyber, defense, homeland security, and health missions. The leases cover both the existing office building, which was the former North American headquarters of Volkswagen and is currently a Peraton lease location, as well as a new 100,000-square foot, build-to-suit office building that will be developed on the Woodland Point campus. Upon completion, Peraton will fully occupy both structures in the near 300,000-square foot campus to support its growing business operations.
The acquisition of Woodland Pointe represents the latest success from Comstock's growing Institutional Venture Platform, an initiative designed to pair the Company's operational expertise with capital resources from institutional partners. As the operating partner of a group composed of affiliated and unaffiliated institutional co-investors, Comstock will provide best-in-class property management, construction management, and development services for the property through two of its wholly owned operating subsidiaries, CHCI Commercial Management and CHCI Asset Management.
