{"id":1004113211,"date":"2015-02-10T07:10:32","date_gmt":"2015-02-10T15:10:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=323090"},"modified":"2022-11-30T06:19:06","modified_gmt":"2022-11-30T14:19:06","slug":"jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\/","title":{"rendered":"JBG Sells Reston International Center to American Real Estate-Square Mile JV"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_323201\" class=\"wp-caption alignright\" style=\"width: 228px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Reston-International-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-323201\" title=\"Reston International Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Reston-International-Center.jpg\" alt=\"\" width=\"218\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Reston International Center<\/p>\n<\/div>\n<p style=\"text-align: justify\">The 15-story office tower known as the Reston International Center is now under new ownership. American Real Estate Partners purchased the property in a joint venture with funds managed by New York-based Square Mile Capital Management LLC from the JBG Cos. The sale price was $35 million.<\/p>\n<p style=\"text-align: justify\">Reston International Center is the highest point in Reston. The property offers 179,000 square feet of office space at 11800 Sunrise Valley Drive, within Reston Heights, a mixed-use development that will include 400 multifamily units and 95,000 square feet of retail space upon completion.<\/p>\n<p style=\"text-align: justify\">According to <em><a href=\"https:\/\/www.propertyshark.com\/\">PropertyShark<\/a>,<\/em>\u00a0JBG purchased Reston International Center in 2006 for $79.7 million. PropertyShark says the property\u2019s current market value is $48.2 million.<\/p>\n<p style=\"text-align: justify\">Brian Katz, president of American Real Estate Partners, said in a news release that the center will soon undergo a $10 million renovation. The project calls for a full makeover of the lobby and common areas, along with the addition of a three-and-a-half story parking deck.<\/p>\n<p style=\"text-align: justify\"><em>Photo credit: <\/em><a href=\"https:\/\/www.americanrepartners.com\/\"><em>American Real Estate Partners<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 15-story office tower known as the Reston International Center is now under new ownership. American Real Estate Partners purchased the property in a joint venture with funds managed by New York-based Square Mile Capital Management LLC. The sale price was $35 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004113211","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JBG Sells Reston International Center to American Real Estate-Square Mile JV - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JBG Sells Reston International Center to American Real Estate-Square Mile JV\" \/>\n<meta property=\"og:description\" content=\"The 15-story office tower known as the Reston International Center is now under new ownership. American Real Estate Partners purchased the property in a joint venture with funds managed by New York-based Square Mile Capital Management LLC. The sale price was $35 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-10T15:10:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-30T14:19:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Reston-International-Center.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"JBG Sells Reston International Center to American Real Estate-Square Mile JV\",\"datePublished\":\"2015-02-10T15:10:32+00:00\",\"dateModified\":\"2022-11-30T14:19:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/\"},\"wordCount\":177,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/Reston-International-Center.jpg\",\"articleSection\":[\"News\",\"Washington D.C.\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jbg-sells-reston-international-center-to-american-real-estate-square-mile-jv\\\/\",\"name\":\"JBG Sells Reston International Center to American Real Estate-Square Mile JV - 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