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ALEXANDRIA, VA-The Washington Real Estate Investment Trust has acquired a small parcel of land near some of its medical office holdings with an eye to developing it as a medical office. The 0.8-acre parcel of land is located at 4661 Kenmore Ave. It is next to WRIT’s Alexandria Professional Center, which it purchased last year for $26.9 million. WRIT funded the acquisition by issuing WRIT operating units that are convertible into WRIT shares equal to $3.8 million.

Current zoning would allow WRIT to develop 70,000 sf of office space on the site. There is the potential to develop additional square footage with a modification of the existing zoning. Until development starts, WRIT will use the land as space for additional parking at WRIT’s Alexandria Professional Center, which is located one-half mile from Inova Alexandria Hospital.

Other medical office holdings the firm has acquired include the four-building Shady Grove/Plumtree Medical Portfolio, for $67 million, in Rockville, MD, a class A medical office building at 2440 M St. in the District for $50 million, and the Woodholme Medical Office Building and Woodholme Center for $49 million, in Rockville, MD.

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