SRS, Edge Tapped to Sell 43K-SF Whole Foods-Occupied Retail Property in Alexandria
SRS National Net Lease Group, along with Edge Capital Markets have been tapped to sell 1700 Duke Street, a 43,000-square-foot net-leased retail property occupied by Whole Foods Market in Old Town Alexandria. The listing price is $28 million.
Whole Foods Market has been a tenant at the location since 2007 and is the street-level retail component of The Royalton, a 116-unit luxury residential condominium property. Since Whole Foods first opened in 2007, the immediate area has seen population grow by 55 percent, and the expectation is that that trend will continue with Amazon’s decision to locate HQ2 just minutes from the property.
“This property is an iconic, irreplaceable urban asset with a high-profile tenant under a credit-rated corporate-guaranteed lease that was the catalyst for development and has been an anchor within the community for 14 years,” said Rick Fernandez, senior managing director at SRS.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.