Comstock Revenue Jumps As Reston Station Projects Advance

RESTON, VA — Comstock Holding Companies reported $22.6 million in revenue for the second quarter of 2026, a 74 percent increase from the same period last year, according to the Reston-based company.

Net income increased 512 percent to $8.8 million, or 84 cents per diluted share, from $1.4 million, or 14 cents per diluted share, during the second quarter of 2025, Comstock said. The latest results included a $4.3 million unrealized gain on the company’s equity investments in Jericho Energy Ventures.

For the first six months of 2026, Comstock reported $40 million in revenue, up 56 percent from $25.6 million during the same period in 2025. Six-month net income rose 257 percent to $10.8 million from about $3 million, according to the company.

Leasing And Development At Reston Station

Adjusted earnings before interest, taxes, depreciation and amortization increased 231 percent to $7.4 million for the quarter, Comstock said. The company reported adjusted EBITDA of $9.5 million for the first half of the year, up 123 percent from the same period in 2025.

Comstock Chairman and CEO Christopher Clemente said the quarterly results reflected increases in revenue, net income and adjusted EBITDA.

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The company said the quarter marked its 30th consecutive reporting period with year-over-year revenue growth. Its managed portfolio included 108 assets, up from 82 one year earlier.

Comstock reported that its stabilized commercial portfolio was 92 percent leased at the end of the quarter. The company executed nine commercial leases covering approximately 409,000 square feet of office and retail space during the quarter, including a 284,000-square-foot lease with Peraton and a 77,000-square-foot lease with QTS.

The stabilized residential portfolio was 94 percent leased, according to Comstock. The company reported leasing 501 residential units during the first six months of the year, including 351 during the second quarter.

BLVD Haley, the recently delivered residential building at Reston Station, was 37 percent leased at the end of the quarter, Comstock said.

The company also reported completing the final phase of BLVD Haley and an adjacent retail space of approximately 6,000 square feet. That work completed delivery of all buildings planned for The Row at Reston Station, according to Comstock.

Comstock said an expansion of the JW Marriott Reston Station Hotel conference center was scheduled for completion in fall 2026. The company also finalized a lease with Back Nine Golf for a golf-themed entertainment venue in BLVD Haley.

Ebbitt House, described by Comstock as the first expansion of Washington’s Old Ebbitt Grill, plans to open its 14,000-square-foot Reston restaurant in October.

Other Real Estate Activity

Comstock said it completed the acquisition of the Woodland Pointe office complex. The transaction added an existing 185,000-square-foot office building to its stabilized commercial portfolio and approximately 100,000 square feet of planned build-to-suit office space to its development pipeline.

Both buildings are fully leased to Peraton, according to the company. Comstock said the acquisition generated $4.1 million in supplemental fees during the second quarter.

A top-floor penthouse at the JW Marriott Residences Reston Station closed for $10.9 million, Comstock said. The company described the transaction as a new record for the most valuable condominium sold in Virginia and the property’s second record-setting sale of 2026.

Comstock also received a management contract covering Dulles Town Center, a 1.4 million-square-foot regional mall. Its ParkX subsidiary secured eight contracts during the quarter, including three involving third-party parking garages, and reported an 89 percent year-over-year increase in revenue.

The company said it also completed an Oklahoma data center joint venture with Jericho Energy Ventures. The venture has development rights covering approximately 6,000 acres of an 18,000-acre subsurface portfolio, according to Comstock.