Office and retail portfolio in Alexandria sells for $23 million
- May 23, 2011
A 50,000-square-foot office and retail portfolio in Old Town Alexandria has sold for $23 million to Route 66 Ventures. The properties are located in the 100 block of King and South Union Streets, about a block from the Potomac River. According to CoStar Group, they are about 97 percent leased. The buildings offer first-floor retail and second-floor office and have attracted tenants such as Starbucks and Ben and Jerry’s. Caulley Deringer and Stephen Beggs of Transwestern represented the buyer, Monarch Row LLC. Paul Hanafin of West, Lane and Schlager represented the seller, Grosvenor Americas Inc.