Peraton commits to both existing and planned buildings at Herndon site
A developer based in Reston, Virginia, has acquired an office campus in Herndon and secured a major lease agreement with national security firm Peraton, which will occupy both an existing building and a new one planned for the site.
Comstock Holding Companies purchased Woodland Pointe, a 6.77-acre office campus located at 2200 Woodland Pointe Avenue. According to company statements and CoStar data, the property was acquired from German asset manager Union Investment for over $40 million.
The campus currently features a six-story office building spanning 185,000 square feet. It also includes a conference facility capable of accommodating 165 people, along with a parking garage. The building previously served as the North American headquarters of Volkswagen, which relocated to Reston in 2020.
In addition to the existing structure, Comstock plans to construct a new 100,000-square-foot build-to-suit office building on the site.
Peraton, a government technology contractor that recently appointed a new president and chief operating officer, has agreed to lease both the current building and the future development. The company’s corporate headquarters is located just three miles away at 1875 Explorer Street in Reston.
Comstock’s Chief Operating Officer, Tim Steffan, stated that companies are increasingly seeking high-quality work environments that support mission-critical operations. He added that this transaction reflects a broader “flight-to-quality” trend in the office market.
The lease agreement is expected to provide a positive boost to the Herndon office market, which is part of the Dulles Technology Corridor. This region is known for its concentration of defense contractors, cybersecurity firms, and aerospace companies, but it is currently facing a high vacancy rate of approximately 25.7%, according to the latest CoStar report.
For the Record
CBRE Vice Chairman Meredith LaPier represented Peraton in the transaction, while Comstock’s Tim Steffan represented the landlord.
Source: Original reporting by Jonathan Lehrfeld, CoStar News.
