eisenhower east

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

NSF-Rendering-small

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

Via WBJ

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.

 

Lee Hernly, Editor
the authorLee Hernly, Editor
Founder & Editor
Lee Hernly is the Founder and Editor of Port City Wire, Alexandria, Virginia's best source for hyper-local news, opinion, and events. I live in the Old Town Alexandria area with my fantastic wife and son Sam. Oh, there’s Serena & Bea too. I’m so excited to meet new readers and see where you are from! Please be sure to leave a comment with a link to your blog so I can check it out!

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