Boston Properties Has Big Plans for Reston: Exec

RESTON, VA — Boston Properties may be unpopular with a large group of Reston locals, but the real estate giant is enthusiastic about future prospects to increase their footprint in Reston in the coming years.

The real estate giant owns around 4 million square feet of space in Reston and continues to develop new properties in the area, expecting to see strong returns in the coming years, Doug Linde, BXP president and director, said during a quarterly earnings call with investors on Wednesday morning.

Linde pointed to 17FIFTY, a 17-story mixed-use project at 1750 Presidents Street in Reston Town Center, which spans 270,000 square feet. He said Boston Properties is currently in "active dialogue" with a potential tenant for that building.

In addition, the developer has "strong activity" in other areas of Reston, claiming that multiple tenants were clamoring for new space being constructed in the Reston area.

Another unidentified executive said later in the call that Boston Properties expects a surge of revenue from new properties in Reston in 2018 and 2019.

In fact, the company has focused all new transactions in the D.C. area in Northern Virginia lately rather than the District itself, Linde said.

Image: Patch file photo