Carlyle Revels In Its Second Wind

ALEXANDRIA, VA—Akridge's pending purchase of 2800 Eisenhower Ave. is the latest sign of stepped up interest in the Carlyle submarket. For the past year, ever since the National Science Foundation announced it would take 660,848 square feet in 2017 here, interest by companies either connected to the government agency or hoping to capitalize on the renewed energy in Carlyle have been making inquiries and investments in the submarket, according to Stephanie Landrum, EVP and COO of the Alexandria Economic Development Partnership.

It is a repeat, in fact, to the wave of development that followed the Patent and Trademark Office when it moved to Alexandria some twenty years ago, she tells GlobeSt.com. "In 20 years this area has been transformed from a former railroad yard, landfill and several auto uses into a new city," Landrum says.

Ever since NSF announced its decision—a year ago this weekend—activity has stepped up and, in some cases, redirected to accommodate the business.

JM Zell, for example, in February received approval for adjustments to the zoning of Carlyle Plaza, which had previously been zoned for 755,000-square feet of office, 632,056 square feet of residential and 26,000 square feet of retail.

With the NSF in the picture he decided it would be better for the project to reduce the office space by 250,000 square feet, and in its place build a 250,000-square foot hotel.

Other projects are breaking ground as well, many propelled forward by the NSF project, Landrum says.

"These projects are all racing to meet the same timeline as NSF, which is Q4 of 2016," she says.

Projects include:

2461 Eisenhower Ave., a 350,000-square foot office tower currently being marketed by Brendan Owen of NGKF;

an expansion project by the Alexandria Sanitation Authority creating a park area/regulation size soccer field on the roof of newly installed tanks;

Hoffman Block 11 (the NSF headquarters is located on Hoffman Block 8) a two tower project totaling 675,000 square feet;

Block 12, which will support a 28-story, 640,000 square feet building.

The Park Meridian at 2250 Mill Rd., which is currently under construction.