Tag

development

Dec 04
0

Avanti Holdings to Build New West End Home for ‘Alexandria Lighting Supply’ Store

By | Alexandria, Commercial Real Estate, Multi-Unit, News, Press, Real Estate Development, VA | No Comments

Original article by ALXnow, James Cullum, September 30, 2020

Avanti Holdings is planning on moving the 50-year-old Alexandria Lighting Supply in Old Town in the West End.

The Eisenhower West-Landmark Van Dorn Implementation Advisory Group was briefed on the plan last week by property attorney Cathy Puskar.

“It will preserve a longstanding Alexandria business, (and) build a new building that could potentially be some other type of retail use in the future,” Puskar said.

Avanti Holdings Principal Teddy Kim chimed into the meeting, and said he wants to start building on the vacant .76 acre parcel at 500 S. Pickett Street “the sooner the better.”

The 33,000-square-foot property is located near the German Auto Group of Alexandria and it would be the permanent home of the lighting supply store. The building itself is planned at just under 15,000 square feet.

The building was designed by Cole & Denny Architects. Plans include a green roof, 9,600 square feet of retail facing S. Pickett street, and 5,100 square feet of warehouse storage use in the rear of the building.

Images via City of Alexandria

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Read full article at: https://www.alxnow.com/2020/09/30/avanti-holdings-to-build-new-west-end-home-for-alexandria-lighting-supply-store/

Jun 12
0

Eclectic Collective

By | Alexandria, Bar, Commercial Real Estate, Press, Restaurant, VA | No Comments
Madison Collective to bring tacos, tattoos to Parker Grey.

 

 

 

 

Chop Shop Taco will offer tacos, tortas and more once it opens in the Madison Collective this summer.

Original article by  Gazette Packet, Hope Nelson, July 7-13, 2018.

Block by block, the Parker Grey neighborhood continues to receive new residents. The latest result of recent growth within the thriving community: The Madison Collective, a development playing host to several businesses within one block. The development, created by Avanti Holdings, is slated to open this summer at 1008 Madison St., adjacent to the corner of North Henry Street. And its offerings will be as diverse as the neighborhood it calls home: A taco shop, a juice bar, a fitness gym and a tattoo parlor will all be opening within the coming months. “What we’ve been trying to do for a long time is to keep Alexandria current, to keep it in line with other options in the DC area,” said Madison Collective principal owner Teddy Kim. “… Alexandria is quickly becoming more known as something that’s a little different than the other pockets (such as Georgetown or the D.C. Wharf).” Kim, a resident of Parker Grey, is not new to the area’s business scene: He and his business partners are the founders of nearby Mason Social. And between Mason Social, Lost Dog Café, the Solidcore gym and Sugar Shack, the new Madison Collective won’t be alone in its quest to draw neighbors in — but its offerings are different from what’s currently available, as well. Chop Shop Taco, its name an homage to the automotive chop shop that sat on the development’s land for so long, will offer tacos, tortas and other Latin-American-inspired food for lunch and dinner. Zweet Sport will help diners work off their meals with a cycling studio and fitness space. Grateful Kitchen will offer an array of juice and coffee via a walk-up window, and James Marlowe of Marlowe Ink is bringing his tattoo artistry to Parker Grey in a new studio. “It’s an interesting mix,” said Judy Noritake, president of the nearby Braddock Metro Citizens’ Coalition. “I think that Avanti and Teddy Kim … has a real understanding of who lives in the neighborhood and where the neighborhood should be going from a retail standpoint.” Madison Collective’s storefronts will open this summer, some perhaps ahead of others. And Kim says he’s looking forward to the impact the development will make within the neighborhood and the city. “I’m most excited about (Madison Collective’s) diversity,” Kim said. “I think that’s representative of the diversity of Alexandria.”

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Read more at: http://connectionarchives.com/PDF/2018/060618/Alexandria.pdf

 

Nov 07
0

Robust Braddock road metro development pipeline keeps growing

By | Alexandria, News, Office, Press, Real Estate Development, Warehouse | No Comments

The Braddock Road Metro area in Alexandria has a significant amount of development in its pipeline, and, after buying an industrial property last week, Avanti Holdings Group plans to add to it.

The Alexandria-based developer bought the 19k SF building at 1200 North Henry St, below, for $3.85M from William Dwyer Properties, with NAI KLNB brokering the deal.  In the short term, Avanti will maintain the building’s eight existing leases, mainly light-industrial uses, and look to fill some of the vacant space, but the company has development plans in mind.  Avanti principal Teddy Kim tells Bisnow the company hopes to tear down the warehouse and build a roughly 100k SF development. The specific type of project is not yet certain, but Teddy says they are focusing primarily on multifamily, hospitality and senior living options.

  Courtesy: KLNB

“The office market is somewhat depressed, I don’t know that it’s a great office site anyway,” Teddy, pictured above on the right with Game Beverage Group EVP Bruce Caughman and Greenhouse Bistro’s Saba Givpour, says. “We feel like it’s going to be one of those three food groups, but we’re open to anything…At the end of the day more density is going to be the answer.” Teddy says they would also be open to ground-leasing the site to a retailer who wanted to build a store, but he is mainly focusing on development options to add more density. He says Avanti is seeking development partners with experience in Alexandria who could help them get through the approval process and build one of these asset types. The site is zoned for industrial, but under the Braddock Metro Neighborhood Plan the density could be increased to 2.5 to 3 FAR, which Teddy estimates would be roughly 90k to 105k SF.

City of Alexandria Avanti’s site, with the arrow pointing to it, sits adjacent to the site of Jaguar Development’s Braddock Gateway mixed-use project, which is approved for more than 800 residential units. Jaguar sold the first building parcel to Trammell Crow in 2011 for $14M. After bringing in WashREIT as JV partner, Trammell Crow broke ground on the 15-story, 270-unit residential building (top left) last December and plans to deliver it next year.  “That’s why the hotel could be a potentially good option,” Teddy says. “Because you’ve got so many new units coming online and the location is so central. North Old Town is beginning to develop an identity…It’s a great location for anything, but a hotel in particular could add to that fabric.”  NAI KLNB’s Josh Simon, who worked with Avanti on the sale and is continuing to help Teddy with the development plans, says they are hoping to get through the approval process by late 2017 or early 2018. He says they have spoken with architects and, given the site’s characteristics, believes Avanti could build a seven-story building with roughly 20k SF floor plates, which he says would yield around 100 to 150 multifamily units or 200 hotel rooms.  If Avanti decides to go with hotel or senior living, Teddy expects to break ground as soon as possible. If Avanti brings in a multifamily partner, though, Josh says they will wait and watch the market—and Jaguar’s development—to determine when the best time to break ground would be.  Jaguar Development Jaguar controls the remaining four buildings of the Braddock Gateway project. The City Council in April approved Phases 2 and 3 (rendered above), which will amount to 541 residential units and 17k SF of retail, plus a two-thirds-acre park.  Jaguar managing partner Eddy Cettina says the company still has to go through the special use permitting process and doesn’t have a scheduled groundbreaking date yet. She says she has not talked with Avanti about its plans, but remains confident the neighborhood can support the amount of multifamily Jaguar is planning.  “I feel extremely good about the area, otherwise I wouldn’t be building on it,” Eddy tells Bisnow. “We’re 1,000 feet from a Metro and everything else that has been built in our immediate area is leasing very well.” The Braddock Road Metro area will be among the topics discussed by the area’s top developers at Bisnow’s State of Arlington County and Alexandria event on December 7.

Originally published: Bisnow.com  |  November 7, 2016  |  by: Jon Banister, DC

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https://www.bisnow.com/washington-dc/news/construction-development/avanti-buys-alexandria-warehouse-next-to-braddock-gateway-project-plans-redevelopment-67322

Nov 04
1

NAI KLNB Closes Sale of $4M Warehouse in Alexandria

By | Alexandria, Commercial Real Estate, News, Press, Real Estate Development, VA, Warehouse | No Comments
At the time of the sale, the building was 76 percent leased and occupied by five tenants.

1200 N. Henry St., Alexandria, Va.

1200 N. Henry St., Alexandria, Va.

Alexandria, Va.—NAI KLNB has recently closed the sale of a 19,000-square-foot Alexandria warehouse for $3.9 million. The company’s Principal Josh Simon represented the buyer, Avanti Holdings Group, while Christopher Campagna of Braddock Commercial Real Estate represented the seller, William Dwyer Properties. At the time of the sale, the asset was 76 percent leased and occupied by five tenants, the majority of which are retailers.

Located at 1200 N. Henry St., the property is situated on 35,000 square feet of land. The building features fourteen-foot ceiling heights and dock height loading, with visibility on Route 1 leading into Old Town Alexandria. In addition, the warehouse is located in close proximity to the Braddock Road. Metro Station, two miles away from Ronald Reagan Washington National Airport and less than ten miles from downtown Washington.

“We saw a major opportunity to acquire an industrial/flex asset that is virtually nonexistent in Alexandria,” said Avanti Holdings Group Principal, Teddy Kim, in prepared remarks, “As we researched further, we realized the future value points toward a redevelopment strategy, and we are currently exploring options. At this time, we are highly focused on leasing the remaining vacancy for the near term to stabilize the asset.”

Image courtesy of NAI KLNB

 

Originally published: Commercial Property Executive  |  November 4, 2016  |  by: Ioana Moldovan

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https://www.cpexecutive.com/post/nai-klbn-closes-sale-of-4m-warehouse-in-alexandria/

Nov 03
0

NAI KLNB Brokers Sale of 19,000 SF Warehouse Building in Alexandria, VA for $3.85M

By | Alexandria, Commercial Real Estate, News, Office, Press, Real Estate Development, VA, Warehouse | No Comments

Avanti Holdings Group acquires building which is 76% leased with five tenants

NAI KLNB has brokered the sale of a 19,000 square foot warehouse building in Alexandria, Virginia for $3.85 million. Josh Simon, principal with NAI KLNB represented the buyer, Avanti Holdings Group, in this transaction. Theseller, William Dwyer Properties, was represented by Christopher Campagna of Braddock Commercial Real Estate. The building, which is contained on 35,000 square feet of land, was 76% leased and occupied by five tenants at the time of the sale.

Located at 1200 N. Henry Street, the building features fourteen foot ceiling heights, and dock height loading, with visibility on Route 1 leading into Old Town Alexandria. The majority of the tenancy are retailers. The asset is situated approximately one-half mile from the Braddock Rd. Metro Station, two miles from Ronald Reagan Washington National Airport and less than ten miles from downtown Washington, D.C.

“We saw a major opportunity to acquire an industrial/flex asset that is virtually nonexistent in Alexandria,” explained Teddy Kim, Principal of Avanti Holdings Group. “As we researched further, we realized the future value points toward a redevelopment strategy, and we are currently exploring options. At this time, we are highly focused on leasing the remaining vacancy for the near term to stabilize the asset.”

Avanti Holdings Group, headquartered in Alexandria, recently sold 410-420 Calvert Avenue and is preparing to acquire several additional sites in the Old Town, Alexandria area later this year. In addition to Kim, Avanti Holdings Group was founded and is owned by Keinan Ashkenazi and Greg Salvaggio.

“We are working closely with Avanti Holdings Group to explore next phase strategies for 1200 N. Henry Street,” explained Josh Simon of NAI KLNB. “This transaction required nearly one year to execute and Avanti intends to leverage this acquisition into a project that makes a substantial impact in the marketplace. We are closely monitoring the Jaguar parcel directly adjacent to the site in an effort to expand, and increase the value of the overall development. With the proximity to Metro and visibility on Route 1, we are optimistic about the possibility of arranging an attractive development partner.”

Founded in 1968, KLNB, LLC is comprised of two real estate services companies that includes NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties, as well as KLNB Retail, which specializes in the sale and leasing of retail properties as well as tenant representation. KLNB is a joint venture in Paragon Commercial Property Management, a full-service provider of commercial real estate property and asset management services. In addition, the company formed a joint venture partnership with ColumbiaNational Real Estate Finance, LLC to create Arris Realty Capital, an entity that provides real estate financing options.

KLNB, LLC provides a full range of integrated brokerage, sales, financial, investment and strategic advisory services to the commercial office, industrial and retail marketplace. Headquartered in Towson, MD, the other four full-service offices are located in Columbia, MD; Washington, D.C., as well as Tysons Corner and Dulles, Virginia. For additional information visit www.klnb.com.

Originally published: citybizlist  |  November 3, 2016  |  by: citybizlist

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http://dc.citybizlist.com/article/385239/nai-klnb-brokers-sale-of-19000-sf-warehouse-building-in-alexandria-va-for-385m#sthash.7trrtlyS.dpuf

Aug 25
0

Saxa Realty buys industrial project from Avanti in $6m deal

By | Alexandria, Commercial Real Estate, News, Press, Real Estate Development, Warehouse | No Comments

The Saxa Realty Group has acquired a two-story 35,000 square foot warehouse building in Alexandria, Virginia for $6.075 million. Located at 410-420 Calvert Avenue, the building features 16.5 foot ceiling heights, four roll-up doors and two internal loading docks. The property rests in the Potomac Yard area, and is approximately two miles from Ronald Reagan Washington National Airport. At the time of the sale the building was 100 percent leased and occupied by four tenants. Josh Simon, principal with NAI KLNB represented the seller, Avanti Real Estate Group.

“When we acquired this asset approximately three years ago, our strategy consisted of a long-term hold in order to execute a development plan within the next seven to ten years,” explained Teddy Kim, Principal of Avanti Real Estate Group. “These plans changed when we were presented with an offer representing a sub 6-percent capitalization rate, in an off-market scenario, and we made the decision to dispose of the property.”

 

Originally published: CIJ USA  |  August 25, 2016  |  by: CIJ USA

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http://cijusa.com/en/encompassme-usa/20486/story/saxa-realty-buys-industrial-project-from-avanti-in-6m-deal

Aug 24
0

Alexandria Warehouse Sells for More Than $6 Million

By | Alexandria, Commercial Real Estate, News, Press, Real Estate Development, VA, Warehouse | No Comments

NAI KLNB brokers sales of 35,000 square foot warehouse building in Alexandria to Saxa Realty Group, LLC.

ALEXANDRIA, VA — NAI KLNB has brokered the sale of a two-story 35,000 square foot warehouse building on Calvert Avenue in Alexandria for $6.075 million.

Josh Simon, principal with NAI KLNB, represented the seller, Avanti Real Estate Group. The buyer, Saxa Realty Group, LLC was self-represented. The building was 100 percent leased and occupied by four tenants at the time of the sale.

Located at 410-420 Calvert Avenue (see map below), the building features 16.5-foot ceiling heights, four roll-up doors and two internal loading docks. The building is situated on Jefferson Davis Highway in the Potomac Yard area, and is approximately two miles from Ronald Reagan Washington National Airport and less than 10 miles from downtown Washington, D.C.

“When we acquired this asset approximately three years ago, our strategy consisted of a long-term hold in order to execute a development plan within the next seven to 10 years,” explained Teddy Kim, principal of Avanti Real Estate Group, in a news release announcing the deal. “These plans changed when we were presented with an offer representing a sub 6 percent capitalization rate, in an off-market scenario, and we made the decision to dispose the property.”

Avanti Real Estate Group, headquartered in Alexandria, is preparing to acquire two sites in the Old Town area, with additional projects expected to be added into the development pipeline this year. In addition to Kim, Avanti Real Estate Group was founded and is owned by Keinan Ashkenazi and Greg Salvaggio.

“We continue to seek viable opportunities, particularly those positioned within the Capital Beltway region and close to our home base in Alexandria, that match our specificm acquisition criteria,” Kim added. “Our group is extremely well-capitalized and, together with the guidance of NAI KLNB, we intend to remain aggressive in our search for suitable properties.”

“Saxa Realty Group was actively seeking a value-add opportunity to initiate a real estate program within the Washington, D.C. marketplace,” explained Josh Simon of NAI KLNB. “They were attracted, in part, by the neighboring development that is set to occur at the Oakville Industrial Park. Based on the existing tenancy of the building and the future development potential, this represented an excellent acquisition for the company.”

By Mary Ann Barton (Patch Staff) – August 24, 2016 10:36 am ET

http://naiklnb.com/alexandria-warehouse-sells-for-more-than-6-million/