Weingarten Acquires Acreage, Plans $160M Gateway Alexandria

Weingarten Realty closed on the acquisition of 5.2 acres at King and North Beauregard Streets in Alexandria, VA. The Houston-based REIT is planning to build the mixed-use Gateway Alexandria, which will have 352 multifamily units, 110,000 square feet of retail and 87,000 square feet of office space. Weingarten’s net investment is estimated to be $160 million, and will include ownership in the retail component, and partial ownership in the office and residential spaces.

No groundbreaking date has been released. Harris Teeter is the anchor store.

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