Paxton Van Lines leases 143,440 square feet in Alexandria

Published October 24, 2016 by Paula C. Squires

In what it characterized as one of the largest industrial lease transactions in the Washington, D.C. metro area this year, Newmark Grubb Knight Frank (NGKF) said Monday that it has completed a 143,440-square-foot lease at Plaza 500 in Alexandria on behalf of Paxton Van Lines Inc.

NGKF Executive Managing Director Larry FitzGerald represented Paxton in its original 107,313-square-foot lease transaction three years ago in Plaza 500. That lease was renewed and expanded by 36,127 square feet.

Earlier this year FitzGerald represented Paxton, based in Springfield, in the sale of 32 acres of land in Manassas for $3.6 million. The site is slated to become the home of a large data center.

NGKF said in a news release that both transactions reflect the moving and transportation company’s initiative to align its real estate portfolio with its growing business.

“First Potomac is pleased to have Paxton Van Lines extend and expand their lease at Plaza 500, now becoming the largest tenant at the property,” Edward V. Zaptin, a vice president of First Potomac Realty Trust, the property’s owner, said in a statement.

Plaza 500 is a two-story, 500,800-square-foot industrial site located at 6295 Edsall Road. It has access to I-95, I-395, I-495, Metrorail and Metrobus services and is close to restaurants and other amenities.