commercial real estate | ALXnow

With recent purchase, Douglas Development now owns buildings on three of the four corners of King and Washington Streets in Old Town

Published December 21, 2021 at 3:30PM | Updated January 5, 2022 at 1:46PM

Banana Republic at 628 King Street and Gap Outlet at 622 King Street closed Jan. 24, 2021 (staff photo by James Cullum)

(Updated at 1:45 p.m. on Jan. 5) The new owner of 628 King Street is shopping the property around, and wants it to remain two retail spaces.

Douglas Development now owns three of the four buildings at the intersection of King and Washington Streets. The D.C.-based commercial real estate firm owns the adjacent properties at 700 (Lululemon) and 701 King Street (the now-closed Le Pain Quotidien), as well as 610 King Street (Anthropologie), 614 King Street (H&M) and 615 King Street (the former Walgreens) and 700 King Street.

News

Director of Finance: Alexandria’s Real Estate Assessments Are a ‘Tale of Two Markets’

By Vernon Miles

Published February 11, 2021 at 3:30PM

For Sale sign (file photo)

City staff said at a meeting earlier this week that, for the local real estate market, it is both the best of times and the worst of times.

While Alexandria’s taxable property value continued to increase dramatically, on the ground property owners face very different realities in the city based on whether that property is residential or commercial.

News

Mark Center Office Building Sold for $71.7 Million

By Vernon Miles

Published February 9, 2021 at 2:30PM | Updated February 11, 2021 at 12:11PM

(Updated 2/11) One of the prominent office buildings in the Mark Center, 2001 N. Beauregard, has been sold for $71.7 million to a Mexican real estate investment firm..

The Mark Center is a West End office park that served as a hub for Department of Defense offices before 2005 Base Realignment and Closure forced many of those offices to relocate to more secure facilities.

News

Morning Notes

By James Cullum

Published March 13, 2020 at 9:00AM

Governor Declares State of Emergency — Virginia Gov. Ralph Northam said he is watching how other states are handling COVID-19 testing and that drive-thru testing may be an option. [NBC 4]

ALIVE! Might Shutter Programs, Needs Donations — “We continue to operate as normal, but anticipate that at some point we may advise volunteers to stay home and close programs. We are doing our best to ensure food supplies are adequate and are increasing deliveries to our regular drop off sites while we are able. Donations to support our food reserves are critically important at this time, as we are sending out everything to our regular clients to help them prepare while we are still able to do so.” [ALIVE!]

News

Morning Notes

By ALXnow.com

Published January 23, 2020 at 8:00AM

New Office to Residential Conversion — “A Mark Center office building in Alexandria is now set to be converted into apartments. D.C. real estate investment firm PRP LLC plans to convert 4900 Seminary Road, a 12-story, 209,000 square foot building, into residential… PRP wants to put 213 market-rate units into the building, which also has room for about 4,100 square feet of ground-floor retail.” [Washington Business Journal]

Mayor Reacts to Retrocession Suggestion — “With Democrats now in control of the Virginia Statehouse, Republican Delegate Dave LaRock says he is concerned that liberal values are taking over so he’s calling for Arlington and Alexandria to be split off and given to D.C… Alexandria Mayor Justin Wilson calls LaRock’s statements a ‘comical clown move.'” [Fox 5, Twitter]

News

Donation Eliminates T.C. Williams High School Lunch Debt

By James Cullum

Published January 15, 2020 at 9:15AM | Updated January 15, 2020 at 11:11AM

Alexandria’s Jay and Arline Hoffman just donated $18,500 to wipe out school lunch debts for students at T.C. Williams High School and its Minnie Howard Campus.

“These kids can’t graduate unless these debts are paid,” Hoffman, the local developer behind Hoffman Town Center, told ALXnow. “Arline and I are blessed to be able to do it.”

News

Morning Notes

By ALXnow.com

Published December 4, 2019 at 8:15AM

Redevelopment Plan in North Old Town — “As the American Physical Therapy Association prepares for a move to Potomac Yard, its current headquarters in North Old Town Alexandria is now slated for a major mixed-use redevelopment.” [Washington Business Journal]

ACPS Teacher’s Harrowing Journey — “When Onelio Mencho-Aguilar was 13-years-old, he left his mother and siblings to embark on a treacherous journey through rural Guatemala to the U.S. alone… against the odds, he found a home here in Alexandria and with the support he found, he thrived. First as a student at T.C. Williams High School and now as a teacher at the International Academy where new arrivals to the U.S. are educated and supported.” [Alexandria City Public Schools]

News

Conversion of Brick Building in Old Town into Coworking Space Underway

By Vernon Miles

Published October 11, 2019 at 11:30AM

Rendering for The Loop at 215 N. Payne (photo via Braddock Commercial)

An old brick building at 215 N. Payne Street is in the middle of conversion into a new “flexible workspace” called The Loop.

Developer Braddock Commercial, whose website indicates that their sole project seems to be this new coworking space, said clients will be able to pick out their own furnishings and furniture for the offices at The Loop.