9:30 AM
Newmark Grubb Knight Frank (NGKF) announced today its appointment by American Real Estate Partners (AREP) as the exclusive leasing agent for Carlyle Center at 1925 Ballenger Avenue, Alexandria, Virginia. Executive Managing Director Edwin M. Clark III, Executive Managing Director Andy Klaff , Managing Director Jeff Tarae and Associate Wesley J. Evans of NGKF will handle the leasing of the office building with street-level retail in the emerging Carlyle submarket.
Carlyle Center, owned and managed by American Real Estate Partners (AREP) is a 5-story, 162,000-square-foot Class A office building with park views and onsite retailers including Starbucks, Potbelly, Pure Barre Alexandria and Bright Horizons Daycare. The property is situated in the heart of the Carlyle submarket providing easy access to the Blue and Yellow Metro lines by way of the King Street Metro Station and the Eisenhower Metro Station, as well as proximity to major highways such as I-495, I-95 and the George Washington Parkway, as well as Reagan National Airport. The building provides onsite concierge and property management, parking and direct fiber connections.
Carlyle Center currently has a vacancy of 22,138 rentable square feet on the 5th floor of the Building. The suite offers prominent exposure off the building elevator lobby and can be sub-divided into suites as small as 3,000 square feet. In addition, the entire 3rd floor will be available for lease as of March 2018. The 31,500-rentable-square-foot opportunity will offer larger tenants virtually column free space in an extremely and efficient floorplate.
“With more than 30 restaurants within walking distance, proximity to King Street Metro Station, historic Old Town Alexandria retail, restaurants and ample green spaces, this metro-accessible, mixed-use development is conducive to attracting a talented workforce and residents seeking an active lifestyle in an urban, walkable, connected environment. This is why we are seeing a resurgence in associations, non-profits along with a growing interest from entrepreneurial companies seeking the urban, 24/7 environment of the Carlyle area,” said NGKF’s Clark.
Many of Alexandria’s other major economic drivers are located in the Carlyle community including the U.S. Patent and Trademark Office, National Inventors Hall of Fame, American Society of Clinical Oncology, Catholic Charities USA, George Washington University - Graduate Education Center, Helicopter Association International, The Motley Fool, Oblon Spivak, Reed Technology Services and the future 700,000-square-foot headquarters for National Science Foundation (delivering Summer 2017).
“The emerging, highly connected neighborhood of Carlyle supported by a strong road infrastructure with a growing amenity base will appeal to organizations seeking to attract and retain their multi-generational workforce. Additionally, AREP’s s commitment to providing tenants the best onsite amenities and the quality expected from a Class A building in today’s market will further enable us to draw more tenants from less vibrant areas,” commented NGKF’s Klaff.
About American Real Estate Partners
American Real Estate Partners, a vertically-integrated real estate fund manager, invests alongside of a cross section of domestic and international institutional partners. The firm concentrates primarily on acquiring Class A office assets, and those Class B assets that can be upgraded or repositioned to Class A status, as well as real estate related financial instruments in markets throughout the Mid-Atlantic along the Eastern Seaboard of the United States. Since October 2003, American Real Estate Partners has completed 38 acquisitions totaling 14.6 million square feet, with an aggregate capitalization of $3.0 billion, representing $1.1 billion of equity. The firm’s current portfolio totals 6.2 million square feet. For more information about American Real Estate Partners, please review the firms’ website at www.americanrepartners.com, or contact Jon Dishell, Managing Director of Fund Management and Investor Relations at JDishell@americanREpartners.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.