Washington, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it arranged the sale of Braddock Gateway- Phase I, a high-rise residential development site located in the emerging Braddock neighborhood of Alexandria, VA. Jayne Shister, Senior Managing Director, David Webb, Senior Managing Director and Jamie Butler, Associate Vice President of Cassidy Turley represented the seller, Jaguar Development. The site was purchased by a joint venture between Trammell Crow Company and Washington Real Estate Investment Trust.
Phase I of Braddock Gateway is part of a Concept Plan approved by the City of Alexandria for a total of five buildings with a mix of residential, office and retail components. Phase I is situated on a one-acre site located at 1219 First Street and has been approved for 270 units with 1,500 square feet of ground floor retail and a two level below-grade parking garage. The development is well-positioned in a transit-oriented mixed-use neighborhood with a rich amenity base. It is just a short walk to Braddock Road Metro station (Blue and Yellow lines) and is proximate to Route 1 and the George Washington Parkway with direct access to downtown Washington, DC, Crystal City, Pentagon City, and Old Town Alexandria. Just north of the site is Potomac Yards Shopping Center, which includes Target, Best Buy, Barnes & Noble, Old Navy and a multiplex movie theater.
“Braddock Gateway will be a high quality apartment building which furthers the ongoing transformation of the Braddock neighborhood, where industrial properties are being replaced by a lively mix of office, residential and retail developments,” commented Jayne Shister. “The City of Alexandria, along with stakeholders in the neighborhood, created the Braddock Metro Small Area Planning Zone to promote transit-oriented development in the area,“ she continued.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.