Courthouse Sq.. Picture courtesy of CommercialEdge
Melrose Solomon Enterprises has acquired Courthouse Sq., a 120,031-square-foot workplace constructing in Alexandria, Va. The vendor, recognized by CommercialEdge as Brookfield Properties, it in 2021 for $26 million. JLL represented the vendor and procured the customer, whereas additionally arranging the acquisition financing.
In 2021, Brookfield bought 12 properties from Washington REIT, incorporating 2.3 million sq. ft of workplace area and 97,700 sq. ft of retail area within the Washington DC – Suburban Maryland market. Courthouse Sq. was a part of the ensemble that modified palms for $766 million.
Accomplished in 1979, the five-story constructing options 23,000 square-foot flooring plates, together with 17,000 sq. ft of retail area. Tenants on the property embrace McEnearney Business, United Financial institution, the Nationwide Group for Sufferer Help, together with quite a few regulation companies.
Situated at 510 King St., the constructing sits within the coronary heart of Previous City Alexandria. It’s near Freeway 1 and Interstate 495, in addition to some 8 miles south of central Washington, D.C., whereas being inside strolling distance of the Previous City Farmers’ Market and the Previous City Alexandria Waterfront.
JLL’s Senior Managing Administrators Andrew Weir, Jim Meisel and Matt Nicholson, together with Govt Managing Director Stephen Conley, Senior Director Dave Baker and Director Kevin Byrd led the group that brokered the deal. Senior Director Drake Greer organized the financing. Final yr, the identical group represented Goldman Sachs within the sale of a six-building workplace campus within the within the area.
