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WHAT'S RIPE FOR REDEVELOPMENT?

WASHINGTON DC 08.16.2017

ALEXANDRIA STATE OF THE MARKET

The Premier Event on Alexandria's CRE Market

AJ Jackson -- EYA
Austin Flajser -- Carr Hospitality/Carr City Centers
Nina Albert -- Washington Metropolitan Area Transit Authority (WMATA)
WHAT'S RIPE FOR REDEVELOPMENT?
Brendon Behan at 5500 E Lombard St
Manekin broker Brendon Behan tells us a property's redevelopment feasibility depends on higher and better use (like industrial to medical office). The numbers on, say, Class-C to Class-A office conversions typically don't justify the investment. Manekin's redevelopment of 5500 Lombard St has a high parking ratio, is TOD (the MARC is expected to stop there in 2015 and the Red Line to start building in '17), and nestles into the the elbow of the I-895 off ramp. That kind of transportation access, especially in a submarket that has upped its own ante, compounds the benefits of redevelopment.
Related Topics: 5500 Lombard St