Department of Defense renews lease for 606,575 square feet in Alexandria
- July 14, 2014
On behalf of the U.S. Department of Defense, the U.S. General Services Administration (GSA) has signed a lease renewal for 606,575 square feet at Hoffman Tower II in Alexandria.
“This is the largest lease in the Washington, D.C., region in 2014, and is one of the top five in the region in the last five years,” Brendan Owen, chairman of the Asset Services Group for Newmark Grubb Knight Frank (NGKF) said in a statement. He and NGKF Principal Scott Johnston represented the owner, The Hoffman Co., while CBRE represented the government.
“The Department of Defense has occupied the site for more than 30 years, and more recently has modernized the building, including energy efficiency upgrades,” said Owen.
Hoffman Tower II is part of Hoffman Town Center, an urban mixed-use development in central Alexandria, developed by The Hoffman Co. Located adjacent to the Eisenhower Avenue Metro Station and within three blocks of the U.S. Federal District Courthouse, Hoffman Town Center represents the potential for more than 5million square feet of office, retail and residential space on 54 acres.
The transaction comes after USAA Real Estate Co. purchased the two-acre development site for the new headquarters of the National Science Foundation (NSF), which signed a 704,571-square-foot, pre-construction lease last summer. Owen represented The Hoffman Co. in the land sale in April.
Other notable activity at Hoffman Town Center includes the recently renovated Hoffman Tower I. The Class A building recently completed a multi-million dollar renovation that preserved the concrete super-structure while adding such amenities as a new façade, upgraded lobby, a tenant-only fitness center and conference center.
Owen also is marketing a multifamily parcel in the center known as Block 11, where grocer Harris Teeter has committed to the retail base of the proposed development. The new store is within walking distance of the three office buildings and will complement the Hoffman Town Center’s retail amenities.
"The opportunities are part of fulfilling Mr. Hoffman's original concept of creating a vibrant, self-sustaining and integrated community in Alexandria that is a hub of daytime and evening activity," Owen said