The 200-unit Alexandria e-lofts is being offered for sale after a mix of office dwellers and residents boosted occupancy in the building to past 90 percent, validating the concept of creating a live-work concept from a former office building.
Holliday Fenoglio Fowler LP (NYSE: HF) has begun marketing 4501 Ford Ave. on behalf of its owner, an affiliate of Cafritz Interests division Novus Property Holdings LLC. The project was created from office space vacated by the Department of the Army, and is now almost fully leased to a mix of office users and residents, according to HFF Senior Director Brian Crivella.
“There’s office folks who are using it as we thought they would be, and there’s residents who are also leasing units in the building,” Crivella said. “They’ve leased it up and stabilized it, and decided it’s a good time to liquidate. I think the concept has proven to be successful.”
HFF, which originally capitalized the project for Novus, began marketing the property about two months…Read the full story from the Washington Business Journal.