Will the new bakery increase overall foot traffic and sales for other tenants in The Row, potentially boosting occupancy and rent growth?

Fundamental outlook

The launch of Tous Les Jours in The Row adds a high‑visibility, food‑driven anchor to Reston Station’s newest phase. A bakery‑café typically generates strong “draw‑in” traffic—especially in mixed‑use, transit‑oriented projects—because it fulfills a daily need and encourages repeat visits. In a walk‑able, office‑light sub‑market like Reston, the spill‑over effect is pronounced: adjacent retail, service and residential units benefit from higher foot traffic, which translates into higher same‑store sales for existing tenants and a more attractive leasing proposition for prospective occupants. Over the next 6‑12 months we can therefore expect a modest but measurable lift in overall foot traffic metrics, supporting higher lease‑renewal rates and giving landlords leverage to negotiate modest rent escalations or new‑lease premiums.

Technical and market dynamics

Comstock Holding (CHCI) is already priced at a discount to peers (≈ 15 % below the sector median EV/FFO) and the stock has been in a shallow, sideways pattern around $12.50–$13.00 for the past two months, with the 20‑day SMA holding steady near $12.80. The bakery opening is a catalyst that could break the range to the upside if the market credits the incremental foot‑traffic upside into higher occupancy and rent growth. A breach of the $13.20 resistance with volume above the 30‑day average would signal the start of a short‑term rally, while a failure to hold above $12.80 would keep the stock in a consolidation phase.

Actionable insight

Given the positive tenant‑mix impact and the low‑valuation backdrop, a long‑biased stance on CHCI is warranted. Consider entering a modest position on a pull‑back to the $12.60–$12.80 range, targeting a breakout above $13.20 as the primary upside catalyst. Keep a stop just below the 20‑day SMA (~$12.40) to guard against broader market weakness or a slowdown in consumer spending that could blunt the bakery’s foot‑traffic benefits. If the breakout materialises, the upside could spill into other regional REITs with similar transit‑oriented assets, offering a broader sector‑play.