Melrose Solomon Acquires DC-Area Office Asset
The seller, Brookfield Properties, purchased the building as part of a $766 million portfolio deal.
Melrose Solomon Enterprises has acquired Courthouse Square, a 120,031-square-foot office building in Alexandria, Va. The seller, identified by CommercialEdge as Brookfield Properties, bought the asset in 2021 for $26 million. JLL represented the seller and procured the buyer, while also arranging the acquisition financing.
In 2021, Brookfield purchased 12 properties from Washington REIT, incorporating 2.3 million square feet of office space and 97,700 square feet of retail space in the Washington DC – Suburban Maryland market. Courthouse Square was part of the property collection that traded for $766 million.
Completed in 1979, the five-story building features 23,000 square-foot floorplates, along with 17,000 square feet of retail space. Tenants at the property include McEnearney Commercial, United Bank, the National Organization for Victim Assistance, along with numerous law firms.
Located at 510 King St., the building sits in the heart of Old Town Alexandria. It is close to Highway 1 and Interstate 495, as well as some 8 miles south of central Washington, D.C., while being within walking distance of the Old Town Farmers’ Market and the Old Town Alexandria Waterfront.
JLL’s Senior Managing Directors Andrew Weir, Jim Meisel and Matt Nicholson, along with Executive Managing Director Stephen Conley, Senior Director Dave Baker and Director Kevin Byrd led the team that brokered the deal. Senior Director Drake Greer arranged the financing. Last year, the JLL team represented Goldman Sachs in the sale of a six-building office campus in the in the region.