2000 Duke Street

Metro-front Class A office building in Old Town Alexandria’s Carlyle district, directly on the King Street–Old Town Metro station.SRG Commercial Real Estate is pleased to present 2000 Duke Street, a 146,470 SF rentable (164,407 SF gross), five-story Class A office building in the Carlyle district of Old Town Alexandria, offered for sale on a fee simple basis and, concurrently, for lease. Built in 1996 to a SmithGroup design on a full-block 1.60-acre site, the brick and limestone building features a signature corner rotunda, a landscaped courtyard on Duke Street, five passenger elevators, on-site management and 296 covered parking spaces (1.8/1,000 SF). The King Street-Old Town Metro station (Blue and Yellow lines) sits directly behind the building. Three full floors of up to 33,000 SF each are move-in ready, left fully built out by The Motley Fool with open work areas, glass-front private offices, conference rooms, reception suites and kitchens. The building generates about $1.70 million of annual in-place rent, anchored by Spaces (IWG) on the full third floor through 2034, with five ground-floor tenants on gross leases (3% annual escalations) rolling in 2028. The property is currently 40.3% occupied, with 87,445 SF available. The offering suits owner-users, non-profits and associations, government contractors, investors and conversion developers. Upside includes lease-up of three floors (an estimated $1.9M to $2.5M of additional annual rent at stabilization), residential conversion, or an office condominium program, subject to City of Alexandria approvals under CDD#1. The building last traded at $75,000,000 in February 2019 at a 5.5% cap rate; today's offering is positioned at a reset basis. Ownership will consider an outright sale or a joint venture. Unpriced, contact broker.2000 Duke Street offers three full floors of move-in ready Class A office space, up to 33,000 SF each and divisible to 1,500 SF, plus the ground-floor balance, in the Carlyle district of Old Town Alexandria. The King Street-Old Town Metro station (Blue and Yellow lines) sits directly behind the building, Alexandria Union Station (Amtrak and VRE) is a six-minute walk, and Reagan National is a 13-minute drive. The available floors were left fully built out by The Motley Fool after a decade as the building's headquarters tenant: open work areas, powered benching zones, glass-front private offices, huddle and conference rooms, reception suites, boardrooms and full kitchens, with a continuous floor-to-ceiling window line and private terraces on the upper floors. Floor 2 offers exposed-ceiling creative space on the Duke Street frontage. Full-floor users gain single-floor identity and room to expand across contiguous floors. Asking $22.00 to $29.00 per SF, net of utilities, advertised below market. Term negotiable; delivery immediate. The five-story, 146,470 RSF building (built 1996, SmithGroup) features a signature corner rotunda, landscaped courtyard, fitness center, five passenger elevators, on-site management and 296 covered parking spaces (1.8 per 1,000 SF). Spaces (IWG) anchors the full third floor with its own lounge and meeting rooms. Neighbors include the USPTO headquarters, the U.S. District Court (EDVA), the National Science Foundation, Five Guys HQ, Whole Foods, Wegmans and King Street's shops and waterfront.