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Fannie Mae Commits to 850,000 SF at Reston Gateway

Boston Properties Scores Second Big NoVa Deal This Year, Secures Anchor Tenant for 1 Million-SF Reston Project
March 1, 2018
Fannie Mae (NYSE: FNMA) has entered into a binding lease agreement for roughly 850,000 square feet at Boston Properties' (NYSE: BXP) proposed Reston Gateway project in Reston, VA.

The company will anchor an approximately one million-square-foot office complex Boston Properties will develop as part of a larger multi-phase, mixed-use campus that could potentially reach 3.5 million square feet. The project is earmarked for a site next to the Reston Town Center Metro Station, which is slated to deliver in early 2020.

The deal is the second big win in Northern Virginia this year for Boston Properties, which signed American defense company and leading government contractor Leidos Holdings (NYSE: LDOS) to a 287,000-square-foot, full-building lease at the company's 17Fifty trophy office tower set to break ground this quarter within Reston Town Center.

The news also comes as Fannie Mae's new national headquarters nears completion within Carr Properties' Midtown Center development at 1100 15th St. NW in downtown Washington, D.C., where the organization will occupy roughly 698,000 square feet.

Fannie Mae is expected to occupy its new space at Reston Gateway in 2022. Art Santry and Ned Goodwin of Cushman & Wakefield represented Fannie Mae in negotiations.
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