QuadBC, LLC acquires 100% leased and occupied asset
NAI KLNB has brokered the sale of 216 South Peyton Street, an 11,000 square foot office building located in the Alexandria section of Virginia for $2.81 million. Josh Simon and Pierson Kreutzer of NAI KLNB represented the buyer, QuadBC LLC, in the transaction. The building is leased and100% occupied by Alexandria City Public Schools.
Situated between Duke and King Street in the heart of Old Town Alexandria, the building features fourteen foot high ceilings on the second floor and ten foot high ceilings on the ground floor. The asset is situated approximately one-quarter mile from the King Street Metro Station, four miles from Ronald Reagan Washington National Airport and less than ten miles from downtown Washington, D.C.Alexandria City Public Schools utilizes the building for its Interim Education Program.
“We were able to identify and acquire the asset on an off-market basis,” explained Pierson Kreutzer of NAI KLNB. “The stable, long term tenancy, along with the potential for future redevelopment, was extremely attractive to our client and is an ideal complement to their portfolio.”
QuadBC LLC, a commercial real estate investment company based in Northern Virginia – together with its investment partners - has assets under management and capital availability in excess of $50 million.
“We believe this asset has an extremely strong upside based on the continued demand for commercial space of this kind within Old Town,” said Jay Beam, Principal of QuadBC LLC. “Attractive opportunities like these are difficult to identify, so we particularly appreciate the expertise and professionalism of the NAI KLNB team throughout this acquisition process. We were particularly impressed with the proprietary sourcing and seamless closing of the transaction provided by Josh Simon and Pierson Kreutzer.”
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
