Monday Properties Buys Five-Building Alexandria Office Park
The five buildings totaling 300K SF sit in a row along North Beauregard Street, next to the intersection with Seminary Road and just north of I-395.
Tenants at the office park include Inova Health System, Virginia Hospital Center, the City of Alexandria and DXC Technologies. Monday is planning major capital improvements for the buildings, including upgrades to the common areas, amenities and landscaping.
The acquisitions come a month after Monday secured an $888M refinancing deal for its Rosslyn portfolio. Last summer, Monday signaled it was shifting from selling properties, primarily in New York, to becoming an active buyer.
“The decision to acquire Beauregard Office Park is consistent with our investment philosophy and desire to expand our property holdings in the greater Washington, D.C., market,” Monday Properties managing partner Tim Helmig said in a release. “Monday’s mission continues to be focused on identifying unique investment opportunities, deploying capital wisely and providing exceptional environments for our current and future tenants.”