8:30 AM
Newmark announces the sale of 225 Reinekers Lane in Alexandria, Virginia. The 132,304-square-foot Class A building, known as King Street Station II, was purchased by a partnership of Altus and Ascentris.
“King Street Station II checks all the boxes for investors in the Northern Virginia market, offering an opportunity to add value to a transit-oriented asset in the mature Carlyle neighborhood with an outstanding walkable amenity base,” said Newmark Executive Managing Director James Cassidy.
Originally built in 1988, King Street Station II has undergone significant capital improvements over the past few years. In 2015, investments were made in a new lobby and fitness center resulting in 52,000 square feet of new leasing activity.
“Located across the street from the King Street Metro station and the Virginia Railway Express train and just off I-495, the building offers great accessibility. In addition, this location is only two Metro stops from Reagan National Airport and three stops from National Landing, the new home of HQ2 and Virginia Tech’s new $1 billion campus,” said Newmark Executive Managing Director Jud Ryan.
King Street Station II is exceptionally well-positioned in the vibrant Carlyle/Old Town Alexandria neighborhood and is steps to Whole Foods and close to a variety of retail.
About Newmark
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 18,000 professionals operate from approximately 480 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.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.