February 6, 2025 (press release) –
WASHINGTON, D.C. Feb. 6, 2025 – JLL Capital Markets announced today that it has completed the sale of Tavern Square, a 171,738-square-foot mixed-use property in Old Town Alexandria, Virginia.
JLL represented the seller and procured the buyer, an affiliate of Melrose Solomon Enterprises.
Tavern Square, which consists of 421 King, 123 N Pitt, and 110 and 132 N Royal Streets, occupies a full city block in Old Town Alexandria. The property was originally built in 1967 and underwent a full renovation in 2019, which added market-leading amenities, including a tenant-only fitness center and a new conference center with tenant lounge. The property is currently 84% leased to a diverse rent roll of 23 tenants.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Matt Nicholson, Kevin Byrd, Andrew Weir, Jim Meisel, Dave Baker, Jordan Lex, Dean Sands and Danny Naughton.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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