LCOR Tops Two Alexandria Offices

[IMGCAP(1)]ALEXANDRIA, VA-LCOR has topped out construction of two offices in the Carlyle area of this submarket. The two buildings, which represent a combined $58 million in development costs, are expected to deliver this December. Located at 1920 and 2050 Ballenger Ave., they are four-story office and retail buildings, with 91,000 sf of office and 37,000 sf of retail.

No preleases have been signed yet, R. William Hard, Executive Vice President of LCOR, tells GlobeSt.com, “but there are several active prospects and we hope to have some tenants in place soon.” The asking rate for the two buildings ranges between $42 per sf to $44 per sf, he adds.

[IMGCAP(2)]LCOR knows this market well; it is landlord to the Patent and Trademark Office headquarters, which is adjacent to these new buildings. Hard says likely tenants would be private sector firms, possibly companies expanding into NoVA.

LCOR’s team for this project includes general contractor Turner Construction and architect Still & Svitchan Associates. Transwestern Retail is providing retail brokerage services; CB Richard Ellis is the office broker. LCOR will own and manage the buildings.