Last two waterfront development sites in Old Town Alexandria go on market
Studley Inc. in Washington, D.C., has been retained by Robinson Terminal to market for sale the last two prime waterfront redevelopment sites in historic Old Town Alexandria. Robinson Terminal is a wholly-owned subsidiary of The Washington Post Co. which also is exploring the sale of its headquarters building in downtown D.C.
Studley said in a press release Tuesday that the sites, known as Robinson Terminal North and South, are located across the Potomac River from Washington and represent a redevelopment opportunity. The two properties offer the potential for more than 600,000 square feet of mixed-use redevelopment on approximately 6.7 acres of land and include 1,000 linear feet of Potomac River frontage and 2,000 linear feet of street frontage on major Old Town thoroughfares. Due to their size, location and water views, the terminal sites have been a key focus of the Alexandria City Council’s Waterfront Small Area Plan, which seeks to establish redevelopment goals for Old Town’s waterfront.
The Washington Post reported earlier this month that is considering relocating from its historic headquarters building in D.C. to a more modern, efficient building. It has retained two brokerages, JM Zell Partners Ltd. and Studley, to explore options in the area.
Studley brokers Vernon Knarr and Arthur Greenberg are heading up the marketing for the Old Town sites. “They have breathtaking, unobstructed river views of Washington, D.C., and present a tremendous opportunity for new residential, hotel, commercial, retail, restaurant and other transformative mixed uses in the heart of Alexandria,” Greenberg said in a statement.
Robert W. Taylor, president of Robinson Terminal, said, “We have decided that the time is right to market the North and South Terminals on the Alexandria waterfront, where we have had a long history of operations. As the business has evolved over time, we can consolidate operations in Springfield, [where the Post has a printing facility] and continue to provide high-quality service to our customers.”