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OLD TOWN ALEXANDRIA, VA-Grosvenor has acquired two boutique retail properties on the Potomac River waterfront for $6 million, according to a source. The seller was Watauga Properties.

There is 5,600 rentable sf at 101½/103 South Union St. while 104 South Union St./One Wales Alley has 7,336 rental sf. Retail tenants include Ben & Jerry's, Barkley Square Gourmet Dog Bakery & Boutique and the Virginia Co. Smith Fairfield Inc., Old Town writers and Blue Cotton Tech Services occupy office space on the buildings' upper levels. Both properties were originally built as homes in the late 1700's; One Wales Alley was added to 104 South Union St. in 2003.

Mark Darley, senior vice president of Grosvenor says the firm hopes to work with the city to expand the focal point of Old Town down South Union Street "and open what is now the rear of our newly acquired properties to retail traffic." According to Darley, Grosvenor might petition the city to close the one-block Wales Alley to vehicular traffic, linking pedestrian traffic from South Union Street and King Street to Waterfront Park.