two class-A officebuildings in the Carlyle area of Alexandria. The four-storyoffice and retail buildings are located at 1920 and 2050 BallengerAve., and were developed for a combined $58 million. Ready foroccupancy the buildings are delivering 91,000 square feet of officeand 37,000 square feet of retail into this submarket. The companyis actively marketing the sites right now.
A close in suburb to DC, Alexandria's vacancy rates haveremained stable through the third quarter, according to a GVAAdvantis report. They were registering 5.3% by the end ofSeptember. Still, though, most tenants here--and through theDistrict--are more than likely to opt to renew current leasesinstead of move to new buildings.
Recent leases inked here, according to GVA Advantis, includeReed Technology Services, which signed a pre-lease for 34,600square feet at 2331 Mill Rd.; HumRRO leased 13,691 square feet at66 Canal Center Plaza; Morgan Stanley renewed for 12,107 squarefeet at 1737 King St.; and Commonwealth Trading leased 11,400square feet at 300 North Lee St.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
