Akridge has partnered with Long Wharf Real Estate Partners to acquire 2800 Eisenhower Avenue, a four-storey, 116,000 sq ft building in the Carlyle/Eisenhower submarket of Alexandria, Virginia.
2800 Eisenhower is part of the Alexandria Tech Center (ATC) development, a nine building complex that includes office buildings, financial institution headquarters, and two hotels.
As a full-service location, 2800 Eisenhower is located inside the Capital Beltway in Alexandria, Virginia. Built in 1987, it sits on 2.3 acres of prime land and offers 30,000 square foot floor plates.
The new ownership will be making improvements to the building include significant upgrades to the exterior of the building, lobby, common areas, restrooms, and fitness facility. 2800 Eisenhower Avenue will also undergo upgrades to mechanical systems, including a full elevator modernisation.
Matt Klein, president of Akridge, says: "Akridge has looked to partner with Long Wharf Real Estate Partners for years and we are excited to work with them on such a great opportunity. We look forward to working with them to bring 2800 back to an Akridge quality building."
"We are extremely pleased to partner with Akridge on the acquisition of 2800 Eisenhower," says Philip Murphy, managing director of Long Wharf Real Estate Partners. "This investment fits perfectly with our strategy of purchasing high quality, well-located properties at an attractive cost basis that allows us to offer a compelling value proposition to tenants."