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Boutique mixed-use asset for sale in one of Washington, D.C.’s strongest submarkets, Old Town Alexandria in Virginia. This 60,376 sq. ft. office and retail building is prominently located at the corner South Washington and Franklin streets, in the heart of historic Old Town Alexandria’s live/work/play environment. The property is anchored by Balducci’s, a popular specialty grocer with only 11 locations on the east coast and occupies about 19,000 sq. ft. of the building’s street-level first floor. The asset features appealing floor plates, which allow for flexibility in leasing to a single tenant or splitting the floor for smaller tenants, a generous window line and one of the only no-cost parking garages in the area, with a high-ratio of 2.7 covered spaces per 1000 sq. ft. Just 2 minutes from I-95 and I-495, with wealthy demographics and walkable to the area’s many amenities.
- Property is 89% leased with 5 years of weighted average lease term remaining
- High probability of renewal from the anchor tenant, Balducci’s, with occupancy at this location for the last 30 years
- Excellent ingress and egress