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Alexandria Warehouse with Outdoor Storage Sells for $9M amid Supply Chain Issues
Washington, D.C.-based Lee & Associates | Washington has brokered the sale of a 28,000-square-foot warehouse building in Alexandria, VA, for $9 million. Terreno Realty Corporation purchased the vacant, 1.27-acre site adjacent to the Van Dorn metro station.
Lee & Associate’s Josh Simon, president, and Pierson Kruetzer, principal, represented the seller, DVPP, LLC, in the transaction.
Terreno has engaged Cushman & Wakefield to oversee marketing and leasing activities of the all-brick building and intends to maintain the building’s industrial application based on the continued high demand for this asset class throughout Northern Virginia.
Lee & Associates reports a high level of interest in the building prior to sale from both residential development companies and industrial users and investors. According to the firm, a significant amenity is the availability of outdoor storage land, which has emerged as a sought-after attribute among logistics companies that require staging or short-term storage space prior to shipping.
- ◦Sale/Acquisition
