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.


Asking rates have decreased over the last year from an averageof $32 per square foot to $31.70 per square foot, the report alsofound. LCOR's project team included general contractor TurnerConstruction and architect Still & Svitchan Assoc. TranswesternRetail is providing retail brokerage services, with CB RichardEllis serving as office broker. LCOR will manage the buildings. Thecompany was not able to speak with in time forpublication.

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