Comstock Acquires Major Herndon Office Campus, Secures Full-Campus Lease with Peraton

summarizeSummary

Comstock acquired a 6.77-acre office campus in Herndon, Virginia, making an initial $5.0 million investment and securing a full-campus lease with Peraton for a nearly 300,000 sq ft build-to-suit development.

check_boxKey Events · M&A and Partnerships · CHCI

• Major Office Campus Acquisition

  Comstock made an initial investment of approximately $5.0 million to acquire the 6.77-acre Woodland Pointe office campus in Herndon, Virginia.

• Full-Campus Lease with Peraton

  Concurrent with the acquisition, Comstock secured a full-campus lease with Peraton for both the existing 185,000 sq ft building and a new 100,000 sq ft build-to-suit facility, totaling nearly 300,000 sq ft.

• Significant Fees Earned

  Comstock earned an acquisition fee of $0.8 million and leasing fees of approximately $3.3 million at closing, with additional ongoing construction management and development fees expected.

• Strategic Joint Venture Structure

  The acquisition was facilitated through a joint venture (Comstock Woodland JV Holding Company) where Comstock holds an 85% common equity interest, with an affiliate controlled by the CEO holding the remaining 15%.

auto_awesomeAnalysis · CHCI · Real Estate & Construction

This 8-K details Comstock's acquisition of the Woodland Pointe office campus and a concurrent full-campus lease agreement with Peraton. The transaction involves an initial $5.0 million investment by Comstock and secures a long-term tenant for a nearly 300,000 square foot build-to-suit campus. This strategic move significantly expands Comstock's managed portfolio in a key technology corridor and generates substantial upfront fees, reinforcing its asset management and development capabilities. The involvement of an affiliate controlled by the CEO in the joint venture and bridge financing highlights insider commitment to the project.