CVS Pharmacy Opens New Location at Reston Station

RESTON, Va., Feb. 11, 2020 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc., CHCI announced today that CVS Pharmacy, the retail division of CVS Health CVS will open at Reston Station on March 1, 2020. The pharmacy will occupy 8,451 Sq. Ft. of retail space at 1906 Reston Metro Plaza, situated between the entrance to the Metro Station and Starbucks on the Metro Plaza.

Adding CVS to the project's retail will provide convenient on-site access to prescription medication and pharmacy experts, health and wellness products, and flu shots to Reston Station's office tenants and commuters. CVS Pharmacy serves millions of consumers around the country with programs including a curated grocery and food selection, elevated beauty, customer-driven personalization with the ExtraCare Rewards program, and an enhanced assortment of health and wellness products.

"The addition of CVS Pharmacy to the Reston Station neighborhood aligns with our commitment to provide convenience and service to our tenants and residents," said Tim Steffan, EVP/Asset Management, Development and Leasing for Comstock. "We are pleased to welcome this national retailer to our community, and look forward to growing our retail tenants in 2020."

About CVS Pharmacy

CVS Pharmacy, the retail division of CVS Health CVS, is America's leading retail pharmacy with over 9,900 locations. It is the first national pharmacy to end the sale of tobacco and the first pharmacy in the nation to receive the Community Pharmacy accreditation from URAC, the leading health care accreditation organization that establishes quality standards for the health care industry. CVS Pharmacy is reinventing pharmacy to help people on their path to better health by providing the most accessible and personalized expertise, both in its stores and online at CVS.com. General information about CVS Pharmacy and CVS Health is available at www.cvshealth.com.

About Reston Station

Strategically located midway between Tysons Corner and Dulles International Airport, Reston Station is one of the largest mixed-use, transit-oriented developments in the Washington, D.C. region. Covering nearly 40 acres along the Dulles Toll Road and surrounding the Wiehle Reston-East Metro Station at the Phase I terminus of Metro's Silver Line, Reston Station is home to the first Helmut Jahn designed building in Virginia and features additional trophy-class buildings by the world-class design team of HKS. With multiple residential buildings completed, under construction and planned, the Reston Station neighborhood will provide a wide variety of housing for thousands of residents while two major brand hotels will serve short-term and extended-stay visitors. Founding Farmers, Starbucks and other popular restaurants are open and coming soon while CVS and other service-oriented retailers will provide additional conveniences for residents, office workforce, and commuters alike. For more information about Reston Station, visit www.RestonStation.com.

About Comstock Holding Companies, Inc.

Comstock Holding Companies, Inc. CHCI is a real estate development, asset management and real estate services company that has designed, developed, constructed and managed several thousand residential units and millions of square feet of residential and mixed-use projects throughout the Washington, D.C. metropolitan market since 1985. In 2019, Comstock completed the wind-down of its subsidiary for-sale homebuilding operation to focus exclusively on commercial real estate investment, development, asset management and real estate related services. Anchoring CHCI's transition is a long-term asset management agreement covering two of the largest transit-oriented, mixed-use developments in the Washington, D.C. area; Reston Station, a nearly 5 million square foot transit-oriented and mixed-use development in Reston, Virginia, and Loudoun Station, a nearly 2.5 million square foot transit-oriented, mixed-use development in Ashburn, Virginia, and additional development assets. Comstock has significant experience with entitling, designing, developing, and managing a diverse range of properties including apartments, condominiums, mixed-use (residential and commercial) properties, large-scale commercial parking garages and infrastructure projects. Comstock also provides development supply chain services, including capital markets, real estate brokerage, environmental consulting, design and remediation services.

Comstock Holding Companies, Inc. is publicly traded on NASDAQ under the symbol CHCI. For more information, visit www.ComstockCompanies.com.

Cautionary Statement Regarding Forward-Looking Statements

This release may include "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by use of words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "will," "should," "seeks" or other similar expressions. Forward-looking statements are based largely on our expectations and involve inherent risks and uncertainties, many of which are beyond our control. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements. Additional information concerning important risk factors and uncertainties can be found under the heading "Risk Factors" in our latest Annual Report on Form 10-K, as filed with the Securities and Exchange Commission.  Comstock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Comstock Companies Media Contact
Shanna Wilson
shanna@eincomm.com
917-674-3096