Newmark announces it has completed the sale of 1801 and 1901 N Beauregard, Alexandria, VA, part of the Mark Center commercial area. Newmark sold the two-building, 211,000-square-foot property on behalf of Duke Realty to Grubb Properties.
The two Class B office buildings are adjacent to the Washington Headquarters Services at Mark Center and just a five-minute walk from the Mark Center transit station. This location provides direct access to Washington, DC, the Pentagon, Amazon HQ2, Reagan National Airport and the entire Washington metro region via I-395, I-495 and the Mark Center transit station. The property consists of 6.35 acres of land currently improved with two office buildings and a shared structured parking garage.
“These buildings offered a unique infill Opportunity Zone investment vehicle for the new owners,” said James Cassidy, executive managing director, Newmark. “With in-place income and a significant opportunity to redevelop the existing buildings, the new owners can capitalize on the residential and commercial needs of the surrounding market. Amazon’s new HQ2 is only six minutes up the road.”
1801 and 1901 N Beauregard also offer proximity to health clubs, daycare centers and banking. They are within walking distance to Clyde’s and The Shops at Mark Center.
Newmark’s Executive Managing Directors James Cassidy and Jud Ryan and Vice President Cliff Cummings facilitated the sale on behalf of Duke Realty.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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