ALEXANDRIA, VA—Akridge and Stockbridge Capital Group have acquired 1199 North Fairfax St., a 10-story, 108,000 square foot boutique building in the Old Town submarket.

The seller was not identified and the sale has not been recorded. A web search indicates 1199 North Fairfax was owned or managed by Tishman Speyer and property records show the previous owner to be Transpotomac V Plaza LP, an affiliate of Tishman Speyer Properties.

In 2001, Tishman Speyer was selected by Beacon Capital Partners to provide leasing property management and construction management for Canal Center Plaza, a five-building complex that includes 1199 North Fairfax St. Earlier that same year, Tishman Speyer represented Equity Office Properties in the sale of 11 and 99 Canal Center and 1199 N. Fairfax to Beacon Capital Partners, as part of a portfolio that sold for $58.5 million.

Matt Konrad, VP of Acquisitions at Akridge and David Nix, VP of Stockbridge, represented the firms in the transaction. The seller was represented by Cassidy Turley. Christopher Sowick, Krysta Herring, and Phil Brannigan of Cassidy Turley will be handling the building's leasing work.

At ten-stories, 1199 North Fairfax is the tallest waterfront office building in Alexandria and is home to a number of tenants ranging from law firms, accounting firms, government contractors, associations, marketing and media specialists, and architectural firms.

The 108,000-square-foot office was built in 1982.

Akridge will be making improvements to the building.

Akridge has a fondness for the Alexandria submarket, calling it one of the strongest in the DC area. "There has been significant capital invested in the office, retail, and multi-family properties [here] all of which confirms to us that 1199 North Fairfax is well positioned to capitalize on this growth in the marketplace," says P. Brian Connolly, SVP of Akridge, in a prepared statement.