Comstock and DivcoWest Announce New Leases for Premiere Clarendon Office Building | New


Greystar and DFS Construction move into Hartford Building

RESTON, Va., Aug. 01, 2022 (GLOBE NEWSWIRE) — Comstock Holdings, Inc. (Nasdaq: CHCI) (“Comstock”) and DivcoWest today announced two new leases for the Hartford Building, located in the Clarendon neighborhood of Arlington, Virginia. Greystar, a leader in the investment, development and management of high-quality rental housing, will occupy 10,166 square feet, and DFS Construction, an Arlington-based construction company, has leased 11,869 square feet.

“We are thrilled to join the Hartford Building and the wider Clarendon and Courthouse community,” said John Clarkson, Greystar’s Managing Director. “As a local developer, investor and manager, we greatly value the region’s access to transport, amenities and excellent schools, as well as the building’s high-quality work experience. We look forward to maintaining our long-term presence in Northern Virginia as a tenant of the Hartford.

Comstock acquired the Hartford Building in 2019 as part of a joint venture with Comstock Partners, LC, a private affiliate, and DivcoWest, a vertically integrated investment firm headquartered in San Francisco, California. The 9-story Class A building is located at 3101 Wilson Blvd., adjacent to the Clarendon station on the Metro Orange Line in Arlington, Virginia. The 211,450 square foot office building with street level retail is currently over 88% leased to several high quality tenants.

“We are extremely excited about our expansion to Clarendon in the Hartford Building,” said Robert DiGiovanni, Director, DFS Construction. “Our long-standing relationship with Comstock Companies and DivcoWest made this trophy an easy choice for our new offices.”

The Hartford Building is located in the heart of Clarendon’s transit-oriented and mixed-use office and retail corridor, which includes Whole Foods, Trader Joe’s, Apple, Barnes & Noble and Sephora, as well as a variety of local restaurants such as Green Pig Bistro, Ambar, Bakeshop and CIRCA in Clarendon. East Coast Coffee & Wine recently opened in the Hartford building, further expanding dining options in Clarendon’s vibrant sub-market and providing additional amenities in the building.

Speaking on behalf of the joint venture, Timothy J. Steffan, COO of Comstock, said, “We are delighted to welcome Greystar and DFS Construction to the Hartford building. These leases represent significant growth in our office rentals in the building, which continues to attract quality tenants.

There is an ongoing renovation and improvement program for the Hartford Building which includes the construction of a shared conference center as well as other common area improvements scheduled for completion in 2023. The Hartford Building and its commercial parking lot are managed by Comstock Commercial Management and ParkX. Management teams.

About Greystar

Greystar is a leading fully integrated real estate company offering expertise in the investment management, development and management of rental housing properties globally. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $230 billion in real estate in 215 markets worldwide, including offices in North America, Europe, South America and the Asia-Pacific region. Peaceful. Greystar is the largest apartment operator in the United States, manages over 754,000 units/beds and has a strong institutional investment management platform with over $49.9 billion in assets under management, including $22.6 billion in development assets. Greystar was founded by Bob Faith in 1993 with the intention of becoming a world-class service provider in the residential rental real estate industry. To learn more, visit www.greystar.com.

About DFS Construction

DFS Construction Corporation was founded on the singular principle of being the most responsible construction choice available to our customers. Capitalizing on their extensive experience, DFS team members are able to address the unique characteristics inherent in each project. Our project team’s experience spans both public and private sector projects, containing structural modification items, specialist systems and finishes, secure installations, building system upgrades and integration of third-party vendors. . Applying their expertise to the construction process allows our teams to deliver a high work capacity without compromising quality, communication or schedule. As a result, our projects are delivered on time and within budget.

About DivcoWest

Founded in 1993 by Stuart Shiff, DivcoWest is a vertically integrated real estate investment firm headquartered in San Francisco, with offices in Cambridge, Los Angeles, Menlo Park, Washington DC and New York. Recognized for its longstanding relationships and experience across the full spectrum of risk in innovation markets, DivcoWest combines an entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since its inception, DivcoWest and its predecessor have acquired approximately 58 million square feet of retail space – primarily in the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in office, R&D, laboratory, industrial, retail and multi-family space. www.divcowest.com.

About Comstock

Comstock is a leading developer and manager of mixed-use and transit-oriented properties in the Washington, DC metro area. As a vertically integrated, multi-faceted asset management and real estate services company, Comstock has designed, developed, built, acquired and managed thousands of residential units and millions of square feet of commercial and mixed-use properties. since 1985, and has been selected by multiple jurisdictions as the lead public-private partnership developer responsible for developing some of the largest transit-focused developments in the Washington, DC area. Comstock offers a wide range of real estate-related services, including asset management, strategic capital markets advisory services, development and construction management, marketing and leasing services, management office and retail properties, residential property management and commercial garage management. Comstock is listed on the Nasdaq under the symbol CHCI. For more information, please visit www.comstock.com.

Comstock Media Contact

Shanna Wilson

[email protected]

917-674-3096

DivcoWest Media Contact

Andrew Neilly/Nancy Amaral

A2N2 Public Relations

[email protected]

[email protected]

925-930-9848

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