Southern Management Corporation
Meany & Oliver represented Southern Management Corporation in the disposition of a 69,897 square foot office building at 1700 Diagonal Road, Alexandria, VA to Carr Properties for $20.85 million (approximately $298.30 per square foot).
American Physical Therapy Association
Meany & Oliver represented the American Physical Therapy Association in its purchase of one of the last remaining waterfront sites at Potomac Yard for the relocation of its headquarters from Old Town Alexandria. APTA is constructing a 100,000 square foot office building on the site which is scheduled for completion in early 2021. This move will enable APTA to reduce its total space significantly from approximately 120,000 square feet to 60,000 square feet. APTA plans to lease the remaining 40,000 square feet to third party tenants. Meany & Oliver is responsible for leasing this space which will come available in January 2021.
At the same time, APTA needed to sell its current buildings located at TransPotomac Plaza in Alexandria, VA. Meany & Oliver marketed the buildings and determined that a sale for the conversion of the office buildings to residential condominiums allowed APTA to maximize the value of its assets. The buildings are currently under contract.
Alexandria City Public Schools (ACPS)
Meany & Oliver represented ACPS in its purchase of 1701-1705 N. Beauregard Street, Alexandria, a 100,000 square foot office building and adjacent garage, which has been converted to a new elementary school. Due to significant growth in enrollment, budgetary restrictions and the limited supply of developable land, ACPS engaged Meany & Oliver Companies, Inc. to investigate the potential lease or purchase of commercial space for use as educational space. Our review included research into physical and economic issues, as well as issues related to Alexandria’s DSUP process and occupancy of a property for educational use for both ACPS and the potential landlords. This assignment required significant creativity and outside-the-box thinking on the part of the entire team.