ALEXANDRIA, VA—As we reported last week, Akridge has acquired, or rather re-acquired, 2800 Eisenhower Ave. More details have emerged since last week's report. The property traded for $13.3 million, or $115 per share foot, according to the Washington Business Journal, when the deal closed on Friday.
Also, Akridge announced that it has partnered with Long Wharf Real Estate Partners to acquire the four-story, 116,000-square foot building, which is part of the nine-building Alexandria Tech Center development.
This is Akridge's second time owning the building. It sold it for $21 million in 1998 fully leased after purchasing the empty building two years prior out of bankruptcy. Public records suggest the owner is a property trust company based in Massachusetts.
The new owners are expected to make significant upgrades to the property, which is nearly vacant right now after its largest tenant, Honeywell/ADT Securities, has just moved to the ADT Alexandria headquarters location at 3601 Eisenhower Ave.
Matt Konrad, Philip Murphy and John Schonborn of Long Wharf Real Estate Partners represented the buyers in the deal. The seller was represented by Steve Gichner and Eric Berkman of Cushman & Wakefield.
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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.
