Current zoning would allow WRIT to develop 70,000 sf of office space on the site. There is the potential to develop additional square footage with a modification of the existing zoning. Until development starts, WRIT will use the land as space for additional parking at WRIT's Alexandria Professional Center, which is located one-half mile from Inova Alexandria Hospital.
Other medical office holdings the firm has acquired include the four-building Shady Grove/Plumtree Medical Portfolio, for $67 million, in Rockville, MD, a class A medical office building at 2440 M St. in the District for $50 million, and the Woodholme Medical Office Building and Woodholme Center for $49 million, in Rockville, MD.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
