News

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

(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.


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Question: What’s the 20/20 on 2020?

Answer: A year ago, all indications were that 2020 was going to be a good year for the real estate market in Northern Virginia. We started off strong, then COVID-19 hit, massive shutdowns followed and the market fizzled. For a few weeks in late March and early April, no one knew what to expect. Then, rather quickly, the market began to rebound, and by the beginning of June 2020 amidst so much strife and uncertainty, Northern Virginia experienced a full-fledged “spring market effect.” That active market continued to the end of the year.


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Question: How did the challenges in 2020 affect the real estate market in Alexandria?

Answer: It is a good thing I had my two-week winter vacation in St. Martin right before the lockdown, because surprisingly enough it was extremely busy from the minute I got back in town.


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