Brookfield Sells Historic Alexandria Office Building for $30M
By Keith Loria August 3, 2023 2:41 pm
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Melrose Solomon Enterprises has acquired Courthouse Square, a historic 120,031-square-foot office building in Old Town Alexandria, Va., for $29.9 million, according to someone close to the deal.
Located at 510 King Street, the five-story building is close to the Alexandria Waterfront, Metro and numerous parks and trails along the Potomac River.
The seller was Brookfield (BN) Properties, which acquired the property as part of a 12-property, $766 million acquisition from WashREIT in 2021. Two of those properties were on King Street, Courthouse Square and the former SunTrust Building, which Douglas Development acquired earlier this year, according to the Washington Business Journal. That leaves Brookfield with just one property remaining in Alexandria— the Cameron Court apartment complex, off Eisenhower Avenue.
Built in 1979 and renovated about a decade ago, the property’s tenant roster consists of mostly law firms. The retail on the ground floor includes a Starbucks and an optician.
Requests for comment from the parties involved in the sale were not immediately returned.
JLL (JLL)’s Stephen Conley, Matt Nicholson, Kevin Byrd, Andrew Weir, Jim Meisel and Dave Baker represented both sides in the deal, while the firm’s Drake Greer arranged acquisition financing on behalf of the buyer. Details were not disclosed.
Keith Loria can be reached at Kloria@commercialobserver.com.
