ALEXANDRIA, VA-The sale of Braddock Place, a four-building, class A office complex here, is expected to close today. The 348,218-sf complex is set to trade for $106.5 million. ING Clarion is selling the property to MGP Real Estate LLC. Paul Collins, Bill Collins, Drew Flood, and James Cassidy of Cassidy & Pinkard Colliers are representing the seller.

An Old Town asset, Braddock Place is located directly across from the Braddock Road Metro Station. It is 96% leased to investment grade tenants including government services groups, associations and the federal government.

The building’s stability is fitting with what is happening in the Alexandria submarket as a whole, says Tonya Ginter, director of Research and Marketing for GVA Advantis. “Alexandria is the only Northern Virginia submarket where the vacancy rates have stabilized.” Every other submarket, she tells, has seen an uptick this year.

The expected price point that Braddock Place is trading at is also in keeping with recent market trends, she also points out. “ING Clarion sold 2051 Jamieson Rd. for just a little under $472.69 per sf in March, which is a little higher than average for the market.”

Another recent comp can be found in Shirlington, Ginter says, which is very close to the Alexandria submarket. That was the $62.5 million, or $302 per sf, sale of Shirlington Gateway.

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