Comstock Announces ParkX Entry Into Hospitality With Two Starbucks Locations

CHCI's rapidly growing services platform ventures into food & beverage space

RESTON, Va.--(BUSINESS WIRE)--Comstock Holding Companies, Inc. (Nasdaq: CHCI) ("Comstock"), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C., region, today announced that ParkX Management ("ParkX") has assumed management responsibilities for two separate Starbucks-licensed locations within Comstock's two premier mixed-use, transit oriented developments - Reston Station in Reston, Virginia, and Loudoun Station in Ashburn, Virginia. The move marks ParkX's entry into hospitality and food and beverage management, representing their latest new service offering and a significant milestone in the real estate service platform's strategic growth plan.

ParkX is one of Comstock's primary real estate service and property management subsidiaries, providing parking management, security, janitorial services, consulting services, and more to a diverse and growing list of real estate owners and developers across the Washington, D.C., region. With a track record of delivering measurable results across a wide range of properties and environments, ParkX has established itself as a best-in-class operator that is known for delivering extraordinary consumer experiences and exceptional customer service.

“Our expansion into food & beverage services with these two Starbucks locations is an exciting step for ParkX and strategic expansion of our service offerings," said Dylan Clemente, President of ParkX Management. "The skilled and knowledgeable teams we deploy have extensive experience and a deep commitment to enhance the performance of all the assets that we manage. We are proud to play an even larger role in shaping the positive experience that Reston Station and Loudoun Station continue to offer to residents, tenants, and the surrounding communities."

Reston Station and Loudoun Station are two of the most prominent mixed-use, transit-oriented developments in the Mid-Atlantic region, serving thousands of commuters, residents, and visitors daily. Reston Station surrounds the Wiehle-Reston East Metro Station on Metro's Silver Line, while Loudoun Station anchors the western terminus of the Silver Line in Ashburn.

For more information about ParkX, please visit ParkXManagement.com.

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C., region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation’s best real estate markets. Comstock’s developments include some of the largest and most prominent mixed-use and transit-oriented projects in the Mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit Comstock.com.