Washington, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it arranged the sale of the building that will become Verisign’s global headquarters - a 221,326 square foot office building located at 12061 Bluemont Way in Reston, VA. Bill Collins, Paul Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley represented the seller, Rockwood Capital, LLC. Verisign acquired the building for $118,000,000 or $533 per square foot.
“This transaction is significant for the Reston market for two reasons: it demonstrates that Reston Town Center can garner the pricing of a core urban center, and it shows that high-profile companies like Verisign view the area as a premier location,” commented James Cassidy, Managing Director, Principal with Cassidy Turley. “Additionally, Rockwood Capital had the foresight to recognize the underlying potential of this real estate when they acquired it back in 2009, an uncertain time in the commercial real estate market,” he continued.
12061 Bluemont Way is an 8-story office building located along the Dulles Toll Road in Reston Town Center. Reston Town Center is the commercial center for Reston, with several retail, restaurant and service amenities. Additionally, the asset is within walking distance to the future Reston Parkway Metro station, part of Metrorail’s expansion to Washington Dulles International Airport. The site has additional approved density and is in line for more due to its proximity to the Reston Metro Station.
Built in 2004 as a build-to-suit for Sallie Mae, the building is currently undergoing enhancements to support Verisign’s specialized needs. Additionally, Verisign is upgrading the building to LEED Certification.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.