Will National Science Foundation Have a New Landlord Before They Move to Alexandria?

by Lee Hernly, Editor


The answer is yes.  Looks like Hoffman will be selling the block 11 residential development as well.


Hoffman Development Inc. didn’t have any plans to sell the National Science Foundation’s planned Alexandria headquarters,  slated for completion in 2017, but the prospect apparently was too appealing to interested buyers to ignore.

Newmark Grubb Knight Frank broker Brendan Owen, chair of the brokerage’s asset services division in D.C., said several interested developers asked about buying the project while Newmark was shopping a residential development site in the same Hoffman Town Center complex. Among them was USAA Real Estate Co., which reached a deal to buy the project earlier this month from Hoffman for an undisclosed price.

The timing — and the fact that Hoffman didn’t initiate potential sale talks — appears to quell some speculation in the commercial real estate community that Hoffman was having trouble financing the project. Those questions arose soon after the General Services Administration picked Hoffman to build the NSF’s new home.

Read more at this link.


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