The Helicopter Association International (HAI) has purchased an office building for $17.1 million that will serve as its headquarters location. CBRE arranged the sale of 1920 Ballenger Ave., a 62,066-square-foot, office/retail building adjacent to the U.S. Patent and Trademark Office Campus in the Carlyle area of Alexandria.
LCOR, a real estate investment and development company, sold the four-story, Class-A building. Completed in 2008, the property was vacant at the time of sale.
“HAI is very excited about our acquisition,” Matt Zuccaro, the association’s president and COO said in a statement. “Our plan is to relocate our international headquarters to the top two floors, while seeking office and retail tenants as appropriate for the lower two floors. It is anticipated that 1920 Ballenger will meet the needs of HAI well into the next 20 years.”
CBRE’s Ed Clark and Steve Hoffeditz represented LCOR in the transaction. Kelley Commercial’s Paula Kelley represented HAI, an Alexandria-based, 3,000-member organization that provides support and services to the international helicopter community.
1920 Ballenger is within walking distance to both the King Street and Eisenhower Avenue Metro and Virginia Railway Express. It’s also close to Ronald Regan Airport and downtown Washington, D.C.
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