BoatUS Headquarters Sells in Alexandria, VA
Public Storage has purchased the building for $13.7 million. The firm plans to turn the building into a self-storage facility.
By Evelyn Jozsa
880 S. Pickett St.
Public Storage continues to expand its footprint. After opening a 890-unit self-storage facility in Texas, it has acquired the headquarters of the Boat Owners Association of the United States in Alexandria, Va., for redevelopment. The 92,000-square-foot flex and industrial building traded for $13.7 million. Transwestern arranged the sale on behalf of the seller, Indian Creek Company LP.
At 880 S. Pickett St. the building occupies a 7.3-acre site in an area that qualifies for Alexandria’s new plan for redeveloping the Eisenhower West district. The buyer plans to transform the building into a self-storage facility. The asset is situated inside the Washington Beltway near interstates 395, 495 and 95.
“The plan provides guidelines for development, with an urban design framework intended to connect parcels into a higher-density, green, sustainable environment for a work, live and play atmosphere. With the increased density, the buyer will provide much needed self-storage space to a constrained market,” said Caulley Deringer of Transwestern, in prepared remarks.
Image courtesy of Transwestern
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