ALEXANDRIA, VA-A former spark plug manufacturing and beer bottling building in Old Town Alexandria is now going to be converted into a high-end condominium property.
Washington, DC-based CAS Riegler Cos. LLC has acquired 515 N. Washington St. for $5.2 million and intends to build 25 to 45 residential condominium units at the 25,204-square-foot building that was most recently owned and occupied by the International Association of Chiefs of Police, according to the Washington Business Journal.
NAI KLNB broker Josh Simon represented CAS Riegler in the deal. Cushman and Wakefield brokers Eric Berlin and Jorge Rosa represented the International Association of Chiefs of Police.
"Our research shows a continued demand for amenity-based, high-end residential product that blends historic features with new, contemporary design elements," Simon states in connection with the Riegler transaction. “Realizing the underlying market fundamentals were in place enabled us to be aggressive in our pursuit of this project, of which the seller had a number of qualified offers before choosing ours.” See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
