Update 3:50 p.m. — The PR firm representing Douglas Development said the transaction hasn’t been closed yet. While the original closing date was today, the PR firm said it is being delayed until tomorrow (Friday).
Earlier:Â The distinctive quasi-brutalist building at 515 King Street is the latest acquisition by Douglas Development, which has been snatching up several buildings along King Street in Old Town.
In a release today, the company said Douglas Development purchased the 70,000 square foot site from Brookfield Properties for $12 million.
“We see enormous potential and value in this submarket, and 515 King St. will be a terrific addition to our Old Town, Alexandria portfolio,” said Matthew Jemal, vice president of Douglas Development Corporation, in the release. “This acquisition will allow us to continue to work with great companies that are looking to grow and further expand their portfolio in the region, while also contributing our value and repurposing useful spaces.”
Along with the purchase, Douglas Development said there will be a series of improvements to the building.
“Capital improvements will include a lobby renovation, ground floor retail renovation, designated office suites and the upgrade of co-working spaces,” the company said, “with the additional plans to refresh the public spaces and incorporate a gym, locker rooms and more.”
The release said Douglas Development is currently in the process of negotiating with prospective tenants for new retail spaces, including a new restaurant.
“The property also has parking,” the release said, “which is unique for Old Town.”
Recent Stories
Charleston style home with courtyard entrance patio
The Alexandria Police Department (APD) is conducting a death investigation near Four Mile Run Park at 4100 Mount Vernon Avenue. According to APD, the investigation is active and no further…
Eisenhower Avenue’s days at the hot-spot for local drag racing could be coming to an end soon. At a Transportation Commission meeting last week, Senior Transportation Engineer Dan Scolese laid…
There’s a liquidation sale happening at Robcyns (3660 King Street) at the Bradlee Shopping Center. Merchandise is currently being sold at half-price. The store reportedly opened in 1963, and sells…
For many remote workers, a messy home is distracting.
You’re getting pulled into meetings, and your unread emails keep ticking up. But you can’t focus because pet hair tumbleweeds keep floating across the floor, your desk has a fine layer of dust and you keep your video off in meetings so no one sees the chaos behind you.
It’s no secret a dirty home is distracting and even adds stress to your life. And who has the energy to clean after work? That’s why it’s smart to enlist the help of professionals, like Well-Paid Maids.
Monarch Montessori School is now enrolling infants, toddlers and three year-olds for its full-time Montessori program. We offer a seamless enrollment process which involves submitting an application for review, paying the enrollment fee and submitting the remaining enrollment materials before your proposed start date.
At Monarch Montessori School, we aim to provide an authentic Montessori learning experience. At our Alexandria location, we currently have 8 openings in our Primary classroom (ages 3-6), and 6 openings in our Toddler classroom. Additionally, there are 3 infant openings at this time.
Our first floor space is an open concept. Infants and toddlers share the same large classroom. Children ages 3-6 are in two classrooms on our second floor. Each classroom has one lead and assistant guide. We offer a year-round program, with intermittent breaks for Spring Break and Winter Break.
Scholarship Fund of Alexandria Annual Gala & Auction
Do good while having a good time at the Scholarship Fund of Alexandria’s 38th Annual Gala and Auction at the Hilton Alexandria Mark Center. The fun begins with a 2-hour open bar reception while mingling with 499 other Alexandrians who
