Douglas Development Purchases 70,000 SF Office Property in Alexandria, Virginia

ALEXANDRIA, VA. — Douglas Development has purchased 515 King St., a 70,000-square-foot office property in Alexandria. JLL represented the undisclosed seller in the $12 million transaction.

The office property recently had renovations completed, including a lobby renovation, ground-floor retail renovation, designated office suites and the upgrade of coworking spaces. Additional plans called for refreshing the public spaces and incorporating a gym and locker rooms.

Douglas Development is currently negotiating with perspective tenants for the retail spaces, with the anticipation of a restaurant opening. Located in the heart of Old Town Alexandria, 515 King St. is situated about nine miles from Washington, D.C.