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virginia

Alexandria to weigh new development for a Route 1 site that hasn’t changed since 1945

By | Alexandria, Commercial Real Estate, Condos, Multi-Unit, Real Estate Development, VA, Warehouse | No Comments

Original article by Bisnow, Michal Neibauer, August 31, 2018

A big change is coming to a triangular piece of land in Alexandria that hasn’t changed much at all in more than 70 years.

The 0.8-acre site at 1200 N. Henry St., less than a half mile north of the Braddock Road Metro station, was built up with one- and two-story industrial buildings in 1945, according to an Alexandria staff report. The proposal slated for review by the city’s Planning Commission on Tuesday would replace those uses with a 115-unit multifamily building — including 11 affordable units — a 10,000-square-foot day care center, ground-floor retail and 137 underground parking spaces.

The applicant, 1200 N. Henry Street LLC, is an entity of Avanti Holdings Group. Alexandria-based Avanti, led by principals Teddy Kim (he of The People’s Drug and Chop Shop Taco), Keinan Ashkenaziand Greg Salvaggio, has largely tackled smaller warehouse-to-office conversions and retail projects to this point. This will be its largest endeavor to date.

Designed by Davis Carter Scott Ltd., the seven-story building has a triangular footprint and rises to a maximum height of 85 feet along the western edge, where it is closest to the Braddock Gateway campus and a planned extension of North Fayette Street. A 20-foot high retail podium would front Route 1.

The site, where North Henry and North Patrick streets begin, is just south of the Route 1 bridge carrying traffic toward Potomac Yard. It is really the first thing drivers see as they come south toward Old Town. City planners, who recommend approval, say the proposed development offers “high-quality architectural design with a signature gateway element” at its northern entrance, a publicly accessible plaza, underground utilities and a $20,000 contribution to Alexandria’s Capital Bike Share Fund.

Cathy Puskar with Walsh Colucci Lubeley & Walsh PC is the LLC’s land use attorney.

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/

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

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

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/

Alexandria Warehouse Sells for More Than $6 Million

By | Alexandria, Condos, Multi-Unit, News, Office, 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.”

Originally published: Patch.com  |  August 24, 2016  |  by: 

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http://patch.com/virginia/delray/alexandria-warehouse-sells-more-6-million