Alexandria bank buys building, brings employees together
Burke & Herbert Bank & Trust Co. pays $22M for office
Burke & Herbert Bank & Trust Co. has acquired a $22 million office building in Alexandria to bring many of its employees together under one roof.
The Alexandria-based bank announced July 11 that it had bought the 110,047-square-foot office building at 5680 King Centre Drive. The seller was not disclosed.
The bank will bring together its workforce, which is currently dispersed across various locations, to work in the newly-acquired building. It will keep its main headquarters at 100 South Fairfax St. in Old Town Alexandria.
“Consolidating our team under one roof allows us to improve collaboration, work much more efficiently, and continue to strengthen and build the bank’s signature culture of community as we embrace future expansion,” Burke & Herbert Bank President and CEO David P. Boyle said in a statement. “The acquisition of this building is consistent with our plans for growth as we continue to execute our strategic priorities.”
The building on King Centre Drive will have employees from several departments, including commercial, treasury management, retail banking, human resources, operations, finance and accounting, credit risk management, marketing, digital strategy and information technology.
Jim Kornick and Bill Evans, of Avison Young, led a team to represent the buyer.